Write a paper on credit card fraud

timer Asked: Feb 25th, 2019
account_balance_wallet $20

Question Description

Use citations, go into depth, describe credit card fraud, and describe how you can avoid it

4 pages double spaced

Tutor Answer

School: New York University

Attached final. Cheers!!!!



Credit Card Frauds


Credit Card Frauds

Credit card frauds can be described as thefts that involve the use of credit cards or any
payments transactions done without the owner’s consent. Usually, the fraudster obtains goods
and or services without paying for it and solicits or earn money through money laundering
processes. Have you ever felt insecure about the use of credit cards to perform online payments
and purchases of goods? How do fraudsters obtain the owner's card credentials? What can be
done to avoid or stop such fraudulent actions? This contemporary issue puts people’s money at
risk. Credit card frauds are on the increase.
A question that many want to get an answer to is, how does someone else obtain another
person’s card number? Firstly, credit card fraud begins when someone obtains another one’s
credit card number. Fraudsters have been discovered to use various ways to accomplish it.
Credit card cloning is a thing that still happens to date. How do they achieve the final clone?
(Carneiro et al. (2017) noted that a system referred to as skimming that entails fixing of the
cloning devices on the payment machines and or in the pockets of the owner of the card as they
get ready to make payments. (Sanusi et al. 2015) on the other hand hypothesized that the card’s
blade has magnetic strips that make it easy for the card’s pin to be copied while inse...

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Good stuff. Would use again.

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