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10-02-2007, 08:39 AM
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Reporting Credit card fraud
Credit card fraud :
Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft. Reporting Credit Card Fraud If you lose or have had your credit card stolen, you should immediately report it to your card issuer. Once you report the incident, you are no longer responsible for unauthorized charges made on your card. In the US, credit card fraud can be reported to the Federal Trade Commission (FTC) and to local and regional authorities. It is the standing policy of the FTC not to investigate reports where the value of fraud does not exceed $2000. Local law enforcement may or may not further investigate a credit card fraud, depending on the amount, type of fraud, and where the fraud originated from. If you are a merchant and you suspect orders have been placed for your products/services using stolen credit card information you will need to contact VISA/MC/AMEX/DISCOVER to obtain the issuing bank's phone number then call the bank to report that you suspect that their customer's credit card information has been stolen. There are 6 main types of card fraud. Click the headings below to see more information:
We may call our customers to ensure that the spending we are seeing on their account is genuine. These calls are in no way a reflection of your financial status and will have no effect on your credit rating.
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03-09-2008, 05:08 AM
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Thread or advertisement?
I wanted to throw in one thing, one of the most important things to do when you are a victim of credit card fraud (in the USA at least) is that you contact the three major credit bureaus, Trans Union, Equifax, and Experian and you put an "APPROVAL BY ME" on all three credit bureaus for the opening of new accounts. This means no info would be provided to a credit card company, or potential lender unless the credit bureau contacted you, and verified that you were the person who applied for the credit.
APPROVAL BY ME is one of the essential things one must do once you are a victim of i.d. theft. It must be done immediatly, one of the first things one must do. Hope this helps. 
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