How is credit card fraud prosecuted?

This is prosecuted as grand theft in California, which is a “wobbler,” meaning that it can be punished as either a felony or misdemeanor. The misdemeanor carries up to a year in county jail and a $1,000 fine, while the felony carries a sentence up to three years and a $10,000 fine.

Can online credit card purchases be traced?

If it’s an online purchase, an investigation can be made to track the shipment of the product to whoever was stealing your money. Of course, this may require you to obtain a subpoena to allow the merchant to release that information.

Are credit card thieves ever caught?

They’re rarely caught as a result of a “stolen credit card” report being investigated. They’re also not caught very often while using a stolen credit card. While they may be caught on video using the card, unless you know the person, it’s doubtful the clerk at the 7–11 or police officer knows who they are either.

Can fraudsters use your IP address?

Your IP address is essential for sending and receiving information online. However, if a hacker knows your IP address, they can use it to seize very valuable information, including your location and online identity. Criminals can use your IP to launch various cyberattacks and scams against you and others.

What is the punishment for credit card fraud?

Criminal Penalties for Credit Card Fraud Under federal law, a person convicted of credit or debit card fraud can be sentenced to up to 15 years in prison. If it is the person’s second or subsequent offense, he or she can face up to 20 years of imprisonment.

Can u go to jail for using someone’s credit card?

People who commit credit or debit card fraud can face jail time and fines, but the exact penalties vary based on the extent of the fraud, the amount stolen, and the goods obtained. In most cases, as the amount increases, so too does the penalty.

Do credit card companies prosecute identity theft?

Credit card companies and merchants put many measures in place to prevent credit card fraud, and they’ll investigate fraud when it happens. Generally, you won’t be responsible for any unauthorized charges if you report the card stolen or dispute unauthorized transactions right away.

Can credit card theft be traced?

While your bank can track stolen cards, the tracking isn’t perfect. It can generally only track the card if it gets used. Also, since people usually pay when they are on their way out of a retail establishment, it’s reasonable to expect that they would be gone by the time that law enforcement could arrive.

Can you track someone using IP address?

Through a useful Internet tool called IP geolocation lookup, you can track an IP address close to someone’s exact location, if they’re communicating with you through the Internet…and if you want or need to know where they really are.

What happens if someone hacks your IP address?

Hacking someone through their public IP address is very difficult. However, hackers who obtain your IP address can get ahold of some very valuable information about you, including your city, state, and ZIP code. With this location data, hackers can find out other personal information about you.

What is card-not-present fraud?

Specifically, the study cites large increases in 2016 for both “card-not-present” fraud — transactions such as online purchases that don’t require a physical card to be swiped — as well as “account takeover,” when a fraudster gains control of a bank account or card and makes unauthorized transactions.

What percentage of credit card fraud is counterfeit?

In fact, it accounted for 45 percent of credit card fraud in 2014, followed by counterfeit card fraud (37 percent) and lost/stolen cards (14 percent). The total value of card -not-present transactions is expected to grow from $9 billion in 2013 to nearly $19 billion in 2018, as fraud at the point of sale (POS) shrinks. Sep 16, 2015

Is credit card fraud linked to identity theft?

Furthermore, it is very important to understand that credit card fraud is linked closely to identity theft. According to the Federal Trade Commission, some 5\% of all people over 16 in this country have been or will be the victim of identity theft.

What should you do if you’re a victim of credit card fraud?

Contact authorities as soon as you notice fraudulent activity. Notify your credit card issuer, the police and the three major credit bureaus (Equifax, Transunion and Experian) if you’ve become a victim of fraud or theft. Have your issuer close the compromised card and send you a new one, but keep records of the fraudulent transactions.