Credit card frauds are becoming a major issue in the world of ecommerce. A credit card fraud is a theft or fraud which involves your credit card. The very aim of a credit card fraud is that theft can buy goods without having to pay, or even steal money from your credit account.
There are 4 main types of credit card frauds:
Credit card skimming: This is when your credit card is copied using a swipe device machine known as a skimmer. This is used to make a duplicate version of your credit card.
Lost/stolen credit cards: If your credit card has been misplaced or stolen, the thief can use the card without your permission.
Making fraudulent applications in your name for a new credit card.
Credit card details: Information like your credit card number, date of birth, card holder name, and address can be stolen from online databases and even via email scams. This information is then sold on the internet.
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