I don’t think I know anybody who hasn’t been affected by credit card fraud. Many people
have been affected multiple times. It seems to be extremely wide spread. The credit card companies seem to take it in stride. I kind of wonder how seriously credit card companies pursue the matters.
According to recent data, credit card fraud was the most common kind of identity theft in 2019, and it has more than doubled since 2017. In 2019, data breaches resulted in the exposure of about 165 million personal records. Data from Javelin Strategy and Research states that credit card fraud losses numbered around $16 billion in 2016, with the number of victims topping 15.4 million.
Data breaches can lead to a cascade of problems, including cyber criminals opening fraudulent new credit accounts in your name.
Penalties for Credit Card Fraud
Credit card fraud can be prosecuted at the state level or the federal level or both. However, there are a few reasons why it’s common for these types of crimes to be prosecuted at the federal level.
First, cyber criminals that use a credit card to make a fraudulent purchase across state lines can be charged in federal court. Also, the federal government typically has a broader reach and more resources compared to the states. Federal cyber crime task forces may be better equipped to track down credit card fraud.
It’s also possible for someone to be charged with an array of crimes arising out of credit card fraud. For example, someone who uses a credit card to assume another person’s identity may be charged with crimes related to the methods they used to obtain the credit card information. This may include certain counterfeit access devices, such as skimmers.
The consequences an individual may face depend on the circumstances of their case, including the amount of money involved, the person’s criminal history, and even the age of the victim.
Alexander Truluck focuses his practice as a criminal defense attorney in Clearwater, Palm Harbor, Largo, Dunedin and the Tampa Bay area.
For more information, visit our website at http://www.criminallawyerclearwaterflorida.com
or call (727) 799-3550.