How to protect yourself from credit card fraud
BillGuard comes with bank-level AES 256-bit encryption security, so all your information is safe and secure. The site is also monitored daily by VeriSign and McAfee HackerSafe. Free. The website is 100% free – there are no hidden charges or fees, even if it spots a charge that ends up saving you hundreds of dollars.
The police will carry out an investigation into stolen credit cards when they have found a suspect during their initial investigations. One thing about credit card fraud is that the majority of them occur on a wide scale especially overseas. More often than not, such cases are handled by the American secret service.
Consumers can dispute fraudulent charges on their bill by calling their issuer. This is typically a quick process where the issuer will cancel the credit card in question and reissue a new one. You also have the right to dispute a credit card charge for a purchase you willingly made.
Minor offenses can result in fines, jail time, or both, but felony-level credit card theft and fraud can lead to prison. “Minor offenses can result in fines, jail time, or both, but felony-level credit card theft and fraud can lead to prison.”
Credit card fraud that involves the theft of the card or the number typically has a prison sentence of 1 to 5 years. Identity theft is treated much more harshly with prison sentences up to 10 or 20 years.
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In May 2014, BillGuard released a free Android app. BillGuard sends personalized data breach alerts that notify users if they've shopped at a merchant who has been breached. ... BillGuard Resolve directly connects merchants with customers who wish to inquire about the merchants' charges on their cards.
Do banks really investigate disputes? Yes. They do so as a protection service for their customers so that they don't have to worry about the ever-increasing sophistication of fraud.
How Card Issuers Investigate Fraudulent Charges. ... The card issuer may request copies of a police report or receipts to compare signatures if they're available. Card issuers and merchants may also look for "friendly fraud," which is when a cardholder makes a purchase and then disputes it as fraud—even though it wasn't.
Credit card companies can track where your stolen credit card was last used, in most cases, only once the card is used by the person who took it. The credit card authorization process helps bank's track this. However, by the time law enforcement arrives, the person may be long gone.
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