Credit Card Fraud Identity Trouble

This document discusses the increasing threat of credit card fraud and identity theft, and the steps individuals can take to protect themselves. It also highlights the need for stronger laws and penalties for offenders. The document provides answers to three questions related to the topic.

Running Head: CREDIT CARD FRAUD IDENTITY TROUBLE
CREDIT CARD FRAUD IDENTITY TROUBLE
Name of the Student
Name of the University
Author’s Name

1CREDIT CARD FRAUD IDENTITY TROUBLE
Answer to question 1:
Credit and debit card transaction, rather the use of plastic money is increasingly
becoming unsafe due to the potential threats it brings along with it (Stavins, 2013). Whenever an
individual identifies that his/her credit cards are being abused, be it a case identity theft or pick
pocket he should immediately inform it to the police and lodge a complaint for the same. The
next step is to inform the assigned bank about the incident and ask the bank officials to
immediately block all accounts as it is operated by someone else and not by the legal authorized
user.
Answer to question 2:
The increasing number of crimes related to fraud credit card transactions and identity
theft basically suggests that the laws and regulations regarding this crime are not strong enough
to guarantee the required security to the users. The offenders must be penalized legally and
strong actions need to be observed by the security officials of the country. The offenders must be
taken to prison and should be made identified among the general mass so that no such similar
crimes are conducted in the country. If we particularly talk about America, identity theft and
abusive use of credit cards fall under the most prevalent crimes in the country (Avellan 2014).
thus in such a scenario the government authorities along with the security bodies must take
strong and bold steps to curb this issue as early as possible

2CREDIT CARD FRAUD IDENTITY TROUBLE
Answer to question 3:
The first and foremost step for the individuals is to get aware of what might lead to such
dangerous. The debit or credit card holders must understand the necessity of keeping the credit or
debit card details as very private and secret. They must be cautious regarding for what where and
to whom they are sharing such personal information in case they need to. This is important
because research shows that most of these fraudulent activities or thefts are done by the
individual’s close acquaintances be it their friends, families or co-workers ("Credit Card Fraud
Identity Theft 1of2 www.IDTheftSecurity.com", 2019). Next step is to immediately inform the
police and other required authorities in case of any such fraudulent event to take immediate
actions on the same and save oneself from getting bankrupt or involved in any sort of legal
hassle. Thus the individuals need to be educated, aware and prompt in order to safeguard
themselves from such fraudulent actions.

3CREDIT CARD FRAUD IDENTITY TROUBLE
References
Avellan, N. C. (2014). The securities and exchange commission and the growing need for
cybersecurity in modern corporate america. Washburn LJ, 54, 193.
Credit Card Fraud Identity Theft 1of2 www.IDTheftSecurity.com. (2019). Retrieved from
https://youtu.be/PIFkQfI-SOg
Stavins, J. (2013). Security of retail payments: The new strategic objective (No. 13-9). Public
Policy Discussion Papers.