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Credit Card Fraud: Crimes and Penalties under US Law

Unauthorizedor deceptive use of credit card of another person to attempt to steal money, goods and services referto credit card fraud. Credit card laws in the USestablishes certain criminal punishments and penalties for the offenders.

Whether it is a federallaw or state law, there are statues at all levels of the government. These laws are enforced by different agencies such as the policedepartment or secret services. Although the government has made resources available to help the victims of these frauds, however, criminal defense attorneys skilled in this area of practice, deal these fraud cases.

Different Types of Credit Card Frauds:

Credit cards frauds occur in different forms and shapes. The ultimate goal of credit card fraud is to steal the funds or obtain and use certain goods for free. Moreover, it is important to note that credit card fraud is linked to identity theft. Speaking of the types of credit card fraud, the following are a few of the most common types:

  • Application Fraud:

This fraud usually happens in the associationof identity theft. In this case, other people apply for credit or new credit in someone else’s name. This becomes possiblewhen the offender steals important documents for the application. However, banks have protective policies including demanding original documents only at the time of application. The offender may also trick the bank by providing false numbers and forge documents frequently.

  • Credit Card Imprints:

Such fraud occurs by stealing the credit card information which is placed on the magnetic strip of the card. Suchinformation is used to make fraudulent transactions or encode a fake card.

  • Card Not Present Fraud:

CNP frauds occur when a person knows the expiry date and account number of someone else’s card. These fraudsoccur through phone, internet or mail. The criminal uses the card without being in actual physical possession of the credit card.

  • Assumed Identity Fraud:

In this type of fraud, the criminal uses a falsename and temporary address to obtain a creditcard. However, in order to protect the customers, banks use different systems such as they ask customers to give account references and will be cross-checkedto ensure the authenticity of that account. Additional documents such as birth certificate, original copy of driving license, or passport etc.

Penalties and Punishments for Conviction:

When the government passes statues regarding credit card frauds, they encompass different types of fraudulent activities. The punishments are assigned based on the dollar value of the items or cash obtained in the fraudulent scheme. For instance, a state’s law can consider credit card fraud a misdemeanor if the amount does not exceed the amount of %500. The penalty for this crime will amount to $1,000 and one year in county jail- the increase in the crime will result in an increasedpenalty.

Felony credit card fraud isthose when a significant amount of property is obtained and such frauds are punishable with the fine of $25,000 and 15 years in jail.

The rightof Criminal Defense:

Credit card frauds receive much higher outcry and terrific results as compared to other known financial crimes. Such crimes also carry a stigma which the accused cannot get rid of. In these circumstances, the accused may retain the credit card fraud attorney which can prove to be a powerfulally to fight against such charges.

Author Bio:

Criminal Defense attorney NY has successfully handled thousands of cases as well as across the United States, in both state and federal courts. We will tenaciously fight for you from start to finish and do everything we can to help you reach the most favorable outcome possible.


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