Fraud

Latest Credit Fraud News

MODIFY: Beloit Police Identify Suspects in Credit Card Fraud
IMPROVE: BELOIT (WIFR) — After an overwhelming reaction on social networking, detectives with the Beloit Police division have now been in a position to determine two suspects desired in link with credit card fraudulence. Authorities state temporary felony warrants have actually been …
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Few arrested for credit card fraud; Audi, Ford Ecosport seized
BENGALURU: two, which operated a credit card-cloning racket from the pretext of working a beauty saloon, was arrested by cyber criminal activity authorities on Wednesday. It was the very first arrest by the recently set up cyber crime authorities section. Authorities restored an …
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Card fraud levels ‘lowest in a decade’

According to the banking industry, card fraud losses were at their lowest level for 10 years for the first half of 2010, at just £187m.

The UK Cards Association said that online banking fraud was down 36% compared to the same period last year, at £25m.

And despite telephone banking fraud being up 9% to £6m, cheque fraud losses fell by 13% to £14m.

These half-year figures follow the 2009 figures which saw a 28% drop in reported credit card fraud, which marked the most significant annual fall since statistics first started being published in 1999.

Melanie Johnson of the UK Cards Association said: “These figures are testament to the importance that the UK’s card companies place on driving down card fraud losses and reducing any inconvenience to customers”.

The huge rise in card use, together with the growth of telephone and internet banking over the past 10 years have given fraudsters more and more opportunity to work.

Between 1999 and 2009, the UK banking industry and retailers lost a reported £4.7bn to card fraud, which includes debit cards, credit cards and store cards.

But you will be pleased to learn that security measures promoted by the industry have been having some effect.

Chip-and-pin technology is now being used both in the UK and abroad and banks are heightening online verification security by adding software that requests secret passwords when using plastic cards to shop online.

The UK Cards Association also added that card fraud abroad has halved in the past two years.

“One of the factors causing this is the fraud detection systems used by the banks and card companies, which monitor for unusual spending – meaning that potential fraud is stopped before it happens,” it said.

“The increasing rollout of chip-and-pin in more and more countries around the world also makes it harder for criminals to commit counterfeit card fraud.”

There are several ways in which card fraud can take place, such as card details being stolen and used to pay for things by phone, online and by mail order, or the use of fake cards, all of which continue to thrive, produceing significant losses to banks and retailers.

Card losses peaked in 2008 at £610m, but have since been falling.

However, the number of reported phishing attacks, where victims are sent fraudulent emails that appear to be a trusted bank or company, in an attempt to trick them into revealing their bank account details, are on the rise, with over 31,000 reported cases in the first half of 2010 alone.

Cheque fraud has been falling, but this is hardly surprising as the use of cheques is rapidly falling.

“The overwhelming majority of attempted cheque fraud gets stopped before the cheque is paid,” the UK Cards Association said.

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Attorney General Sorrell alerts of continuous credit card fraud

Lawyer General Sorrell alerts of ongoing credit card fraudulence
Additional information on getting a credit frost is available right here: www.consumer.ftc.gov/articles/0497-credit-freeze-faqs. Check your credit file for suspicious reports. You’ll purchase one report free each year from all the three credit rating …
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The Walking Debt: Schumer would like to break down on 'zombie' balances, false
Schumer stated there’s an ever-increasing number of reports from people who say that financial obligation offered to a collector from a bank or other creditor ended up being really paid. What's worse is it might arrive on a credit report as a debt owed, although it …
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Farm Service Agency: no credit scores
The main factors in determining credit rating tend to be repayment history and level of debt owed. Exorbitant credit reports and large balances about credit limits can also adversely affect a credit rating. Credit history and scores are accustomed to …
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Credit card fraud proves costly: University Heights Police Blotter

Credit card fraud proves costly: University Heights Police Blotter
Fraud, Milton Road: A resident of the 2400 block of Milton reported an act of fraud at approximately 1 p.m. Nov. 13. Someone used the victim's identity to open several credit cards. Transactions totaling more than $ 2,600 were conducted in another state.
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Can Your Own 'Negligence' Leave You Liable for Fraud?
The old checkbook is becoming a bit of a historical artifact, as far as financial products go. They're still a favorite tool for fraudsters, and as one woman found out the hard way, they don't have the same consumer protections as credit cards and …
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Police: Tens of Thousands of Dollars Stolen in Green Bay Credit Card Fraud
Green Bay Police say they are working several cases of credit card fraud involving tens of thousands of dollars. Investigators scatter a handful of the credit cards on a table. They were all seized from people police say stole credit card numbers, then …
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Taxpayer loses more in fraud and error than George Osborne's tax credit cuts

Taxpayer manages to lose more in fraud and error than George Osborne's tax credit slices
The general public Accounts Committee blasted in a current report: 'We were surprised that DWP however wants fraudulence and error to increase from £4.6 billion in 2013–14 to £5.8 billion in 2020–21, hence Universal Credit is only going to conserve £0.5 billion each year in …
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Woman from Cuba pleads accountable to credit card fraudulence
Claudia Diaz Diaz, 22, pleaded accountable before U.S. District Court Judge Richard J. Arcara to conspiracy to dedicate bank fraud. Assistant U.S. Attorney Russell T. Ippolito Jr. stated the defendant fraudulently received the credit and debit card variety of …
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Latest Credit Fraud News

Men arrested in credit card fraud case
APPLETON — Four Michigan males had been arrested in a charge card fraud situation after Appleton police got a study of dubious charge card deals at an area business, authorities said Tuesday. A worker informed authorities that a small grouping of guys had made use of …
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Police: Meriden girl faced with ID theft spent almost 000 on deceptive
Lynn Lindsay, 44, of 439 Blackstone St., had been recently faced with first-degree larceny, first-degree identity theft, illegal using a credit card, charge card fraudulence and three counts all of charge card theft and making a false statement to procure a …
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