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Credit Card Application Fraud
Credit Card Application Fraud is a scam in which a criminal applies for a card (or other banking service) with another person’s personal financial information. By using stolen or false documents, including utility bills, banks statements, and passports or driving licenses, the thief can usually pass the credit card application.
This scam is a particularly damaging form of identity theft. Scammers can use their ill-gotten card to purchase thousands of dollars of goods and the person whose information they’ve stolen will have a very difficult time proving that they’ve been victims of fraud, and even repairing their damaged credit rating.
The best way to prevent this kind of Credit Card Fraud is to protect one’s information. Shred old bills and receipts. Protect personal documentation and identity numbers. Be extremely careful who is given access to said information. Be wary of Internet Phishing Scams that attempt to obtain personal information online.
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