How do people get away with credit card fraud?

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asked Oct 29, 2020 in Law & Legal by playlist4443 (910 points)
How do people get away with credit card fraud?

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answered Oct 29, 2020 by Salmorejo (41,600 points)

Getting away with credit card fraud is pretty easy to do especially for an experienced person committing the credit card fraud.

Credit numbers and expiration dates, etc are all pretty easy to steal especially if you're a hacker.

Hackers have been able to hack into websites that store credit card information and then use that credit information to get money from the credit cards.

Also the people who commit credit card fraud check to make sure the credit card is active and then when they know for sure if it's a good credit card they either transfer money out of it to their bank account.

Or the credit card fraudster sells the credit card information online through the dark web.

they’ll take the legitimate numbers and do a couple of different things with them:

  • They’ll sell the number lists to other criminals
  • They’ll create fraudulent physical cards with the information to make retail purchases
  • They’ll try to socially engineer additional information to use the cards for wire transfers and cash advances

People who commit credit card fraud are pretty hard to track down as well so the police cannot do much about it.

Some people who commit credit card fraud may also be out of the country and not in the USA so if they are not in the same country then the USA police cannot do anything about it.

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