Credit card fraud in Trinidad and Tobago

Abstract

Purpose

The purpose of this paper is to discuss credit card fraud in Trinidad and Tobago.

Design/methodology/approach

The paper describes credit card typologies in Trinidad and Tobago and the existing law governing such fraud. It outlines the success and inadequacies of the enforcement machinery and issues involving credit card fraud detection and prevention.

Findings

The law regarding credit cards is in a very confused and unsatisfactory state in Trinidad and Tobago. Education in counteracting the criminal activities of credit card fraudsters is vital. Informing the public of the various fraudulent typologies relative to credit cards and at the same time, advising members how to protect themselves are the most effective methods to address the fraud problem. The Bankers Association of Trinidad and Tobago should also play a critical role in addressing credit card fraud. The association should formulate credit card policies along similar principles as those formulated for cheque fraud to benefit all banks and merchants.

Originality/value

Credit card fraud has only been a recent phenomenon in Trinidad and Tobago. This paper is valuable in offering suggestions as to the way forward in the prevention of such fraud.

Citation

Arthur Williams, D. (2007), "Credit card fraud in Trinidad and Tobago", Journal of Financial Crime, Vol. 14 No. 3, pp. 340-359. https://doi.org/10.1108/13590790710758521