NCJ Number
178330
Date Published
1998
Length
4 pages
Annotation
This document examines the impact of measures to reduce credit card fraud.
Abstract
Reduction of credit card fraud reduces the direct financial losses suffered by card holders, issuers and retailers; improves public perceptions of the integrity of the system; and increases the acceptability of automated banking systems. Reducing the range of opportunities to offend is the key to success, particularly when all those involved (card issuers, those who license traders to accept cards and retailers) act together as “capable guardians.” Procedures implemented by the Great Britain Home Office have reduced the ratio of fraud to turnover on sales of goods from 0.38 percent to 0.09 percent. Modeling of customer transaction patterns has helped banks identify and prevent fraud before customers notice their cards have been stolen or copied. Public-private policing cooperation has led to successful international prosecutions of counterfeiters. Table, references