Credit fraud?

Question

Ok, here's a simplier question.. How does the credit card company find out who stole a credit card and made charges? It happened at Ralphs

Answer 1

They will need a police report. The police will then probably investigate - if it's a small amount. If it's a larger amount, the FBI will investigate it.

Answer 2

Credit card companies monitor activities on the account frequently. That's why they have zero liability when someone stole your card. Sometimes they shut down the card before you realize that someone stole your credit card even the card is still in your possession. We call it "compromise". We will shut down the old card, notify you and send you a new card.

Credit card company may not know for sure who stole it but if you're a victim of fraudulent charges and you know the person who stole your credit card, you can file a police report.

Store may be security camera. Credit card companies have the ability to tell what time the charges were occure, they can catch the thief that way too.

Why do you ask? Watch CNN. Last week they have a show calls "How to rob the bank" the police found the crook and he's in jail now.

Answer 3

THATS A JOKE!!!! The credit card companies might advertise they protect you in the case of fraud --- But the truth of the matter is they dont take ANY responsibility for fraud --- If you call your credit card company and claim fraud on your card -- the charge gets reversed back to the merchant as a "Chargeback" which means the money is taken away from them.... The credit card doesnt do anything aout the fraud - The merchant has to attempt to collect it or catch the crook....Additionally --- even if the credit card company issues a fraud chargecard and purchases are made - The credit card company still does a chargeback....The ONLY defense a merchant has is to question all charges or stop accepting credit cards which they arent about to do.

Answer 4

Using the bills and the slips they will have when using credit cards, a user will be able to trace all of the expenses they have made with the card, thus making their financial management easier to perform, other advantages are the rebates and other rewards that they may receive every time they use their credit cards to finance their expenses. And with so much advantages that could be availed through credit card payments, many individuals and families simply integrate a credit card account with their daily financial management activities.

The popularity of credit card ownership has been pushed further with the growth of the internet as a merchant, In fact, there are now hundreds to thousands of credit card offerings over the internet, most of which are sent in the form of an email message. Check your email inbox and you will find various credit card companies advertising their credit plans to potential clients, some of which are; zero-percent APR for one year, higher rebate percentage on every purchase, and more of the like. Read more from: http://www.credit-card-gallery.com/article/140,The_Reality_About_Credit_Card_Fraud

Answer 5

A lot of people get away with this for years before they get caught. Most of them never get caught.

The credit card companies have a bunch of people working for them with nothing else to do than figure this stuff out, because credit card fraud is a billion dollar crime industry which seriously hurts bank profits.

Consider me ... I am a computer professional who used to have several credit cards, but I am weaning myself off them because I consider credit card security to be a joke.

I also have identity theft insurance because I cannot eliminate all risks. For example, I drive in Indiana. The Indiana DMV was recently computer security breached.

I don't want to give up driving personal auto.

I tell all my friends to cut up their credit cards until such time as this problem gets fixed.

Answer 6

They know the time the transaction happened, most store now have security cameras put the two together and you have a composite and picture of who did it.

Answer 7

Security monitors. Everything is time & date stamped.