4 Common Credit Card Fraud Examples

By: Gen Wright

While credit card fraudsters use several techniques to perpetrate their crimes, you often find some patterns recurring. Thus knowing some common credit card fraud examples will definitely help in preventing or reducing the risk of falling victim to some of these credit card fraud schemes.

Security Check Fraud

This fraud example is actually very slick and has proven effective in so many cases and you need to be on your guard. So far, they have involved VISA and Master cards but who knows how many others involved in the scams? So, here's how it goes:

You get a call from someone claiming to be from the Security and Fraud section of VISA/Master Card. They even go ahead to give you their badge number-which turns out to be real-and then say that your account has been flagged due to some unusual activities and needs to be verified. The caller then asks if you made a particular purchase from a particular company. If you say no, the caller then says your account would be credited and that the company has actually been under their scrutiny and that the charges are always under the $500 limit that raises a flag. The caller also says the credit would be sent to your address-which he calls out to you and asks you to confirm. After confirming the address, the caller informs you that he'll be starting an investigation and give you a number to call if you have any questions.

Now, the caller drives in the screws by asking you to read out the 3 security numbers on the back of your card to verify that you are actually with your card. After you read it out to them, they tell you that the number is correct and that the verification is complete. They thank you for your time and tell you not to hesitate to call them if you have further questions.

If you ever get this kind of call, never give out your security number because that's what they need to scam you. Hang up on this kind of call or tell them you'll get in touch directly with the provider. This was one of the common credit card fraud 2010 examples.


Skimming fraud was also one of the common credit card fraud 2010 and credit card fraud 2011 examples. The fraudsters install a skimming device on an ATM or POS terminal in order to secure card numbers and PINs.

Using Public Wi-Fi

Avoid using public wi-fi to check your accounts and other financial data because this was also a common route for credit card fraud 2011. Fraudsters often plant intermediaries to grab sensitive card information.


Fraudsters often use unsolicited emails, calls, texts and even social media messages to phish for information from credit cardholders, so if you receive such messages asking you for personal information and debit or credit card data, get in touch with your issuer directly by calling the customer service number printed on the back of your card.

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Since you now have an idea of how you can benefit from credit card fraud examples it is important that you look for the best sources of credit card fraud 2011.

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