Reports indicate around 86% of consumers had experienced credit card fraud in 2020. Credit card fraud is using a debit or credit card without the owner’s permission. There are several types of credit card fraud in Dallas, Texas, a consumer should know.
Types of credit card fraud
Credit card fraud covers several white-collar crimes that may or may not involve the physical card. Credit card fraud often occurs without the card present, which involves the scammer stealing data over the phone or online.
Phishing emails trick the victims to give them personal data because the emails appear to be from a legitimate business. They may ask the victims to verify their account details, but it redirects to the scammer’s website.
Data breaches occur when a hacker gets into a company’s database with a customer’s account details. Many of these databases hold social security numbers, names, birth dates, and linked debit or credit cards that can be misused.
Some scammers install undetectable skimmers to steal pin codes using the magnetic strip when the victim inserts it. Other common ways thieves steal credit cards are by taking the cards from stolen wallets, a table in a restaurant, or mailboxes.
Credit card fraud penalties
Each state has its own laws regarding penalties and they may divide charges by statutes, such as physical possession and account number only. However, Texas has one statute for various offenses, such as stealing cards with fraudulent intent or buying known stolen cards.
In Texas, all offenses commonly count as a state felony with fines of up to $10,000 and six months in jail. If fraud occurs against an elderly person, the penalty counts as a third-degree felony with up to ten years in jail.
Credit card fraud is a serious charge, but the accused person may challenge it. They can claim lack of intent, which is required for a prosecution.
