What Are The Penalties Of Credit Card Fraud ?  

Credit card fraud takes place when a person uses someone else's card to make a purchase or uses the card with the intent of defrauding a business.

The most common types of credit card fraud include counterfeiting credit cards, using stolen or lost cards and getting credit cards through mail by using illegal means.

It is estimated that more than half of the credit card frauds taking place actually happen online.

So, what are the penalties for credit card fraud? When a person is charged with credit fraud, he is charged under Title 18, Section 1029 of the US Code. The law under this code prohibits a person from producing, possessing, trafficking in or soliciting access devices with the purpose of committing a fraud. Access devices refer any way of access accounts and this includes credit cards, PIN numbers, account numbers, and telecommunication services and equipment.

Investigation into credit card fraud is primarily the responsibility of the Federal Trade Commission but local, state and federal law enforcement agencies can also investigate and prosecute. Penalties for credit card fraud include imprisonment for up to 10 to 20 years and/or substantial fines depending on the type of fraud and the law of the state. If the fraud is a second offense, a person can go to prison for a maximum of 20 years. However, the law varies from state to state and that is why the penalties also vary. While one state may imprison a person convicted of credit card fraud for 3 years, another state for the same offense may hand a sentence of 10 years.

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What Are The Penalties Of Credit Card Fraud
 

What-Are-The-Statutes-Of-Limitation-On-Credit-Card-Fraud      Usually when a person has been a victim of credit card fraud, there can be instances where he might be forced to pay the amount until it can be proven that fraud actually took place. If fraud is proven, then the credit card company returns the amount to the person. More..

 


 

 

 
   
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