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Credit card fraud: awareness and prevention

Katherine J. Barker (College of Business, University of South Florida St Petersburg, St Petersburg, Florida, USA)
Jackie D'Amato (College of Business, University of South Florida St Petersburg, St Petersburg, Florida, USA)
Paul Sheridon (College of Business, University of South Florida St Petersburg, St Petersburg, Florida, USA)

Journal of Financial Crime

ISSN: 1359-0790

Article publication date: 10 October 2008

8619

Abstract

Purpose

To make readers aware of the pervasiveness of credit card fraud and how it affects credit card companies, merchants and consumers.

Design/methodology/approach

A range of recent publications in journals and information from internet web sites provide corroboration and details of how fraudsters are using credit cards to steal billions of dollars each year. Numerous schemes and techniques are described in addition to recommendations as to how to help control this growing type of fraud.

Findings

Credit card fraud is a healthy and growing means of stealing billions of dollars from credit card companies, merchants and consumers. This paper offers current information to help understand the techniques used by fraudsters and how to avoid falling prey to them.

Research limitations/implications

This fraud relies on technology currently available and the easy ability to obtain machinery to steal individual identities and account information, and to produce fraudulent credit cards. Information cited is current but could change radically as technological breakthroughs occur. The changing nature of technology also affects the recommendations made to control this fraud.

Practical implications

A very useful source of current information on credit card fraud for bank, credit card companies, merchants, and consumers.

Originality/value

This paper provides specific current information and recommendations regarding a fraud topic that is of interest to a wide audience.

Keywords

Citation

Barker, K.J., D'Amato, J. and Sheridon, P. (2008), "Credit card fraud: awareness and prevention", Journal of Financial Crime, Vol. 15 No. 4, pp. 398-410. https://doi.org/10.1108/13590790810907236

Publisher

:

Emerald Group Publishing Limited

Copyright © 2008, Emerald Group Publishing Limited

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