Credit fraud is a crime that comes in many forms—but the bottom line is that someone is using your credit accounts or your good name without your authorization. (Victims of credit fraud are not liable for unauthorized charges, but the hassle of unraveling it can be frustrating and time consuming.) Crooks can steal credit cards from mail boxes before you even receive them. Sales employees and waiters swipe your card through "readers" and can create duplicates to be sold on the black market. In the crime known as identity theft, an impostor uses your Social Security number and other personal information to set up credit accounts and buy goods and services on credit. You lose your wallet and before you know it, someone else may be using your credit cards for a shopping spree. These are all examples of credit fraud.
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Credit fraud is a crime that comes in many forms—but the bottom line is that someone is using your credit accounts or your good name without your authorization. (Victims of credit fraud are not liable for unauthorized charges, but the hassle of unraveling it can be frustrating and time consuming.) Crooks can steal credit cards from mail boxes before you even receive them. Sales employees and waiters swipe your card through "readers" and can create duplicates to be sold on the black market. In the crime known as identity theft, an impostor uses your Social Security number and other personal information to set up credit accounts and buy goods and services on credit. You lose your wallet and before you know it, someone else may be using your credit cards for a shopping spree. These are all examples of credit fraud.