Where to get a Credit Card

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Fortunately, new security measures and rights are making it more difficult than ever. Story of credit card fraud In the past, credit card frauds have been a major issue, although the introduction of chips and pins has significantly enhanced the levels of card related protection. But there are still various ways in which criminal individuals and credit card businesses can cheat on huge amounts of cash. We will go through some of the largest credit card frauds in all history and help you prevent becoming the victim of something similar in this credit card frauds manual.

In this section, we take a look at two of the most profitable credit card frauds of the past in the UK and USA before reviewing your credit card related legal issues and the actions you can take to keep your funds safe. One of the largest examples of credit card frauds in the UK happened in the mid-2000s, when a bunch of East Europeans using 32,000 credit cards' data that had been taken and copied to buy more than 17 million pounds illegal.

One of the largest credit card scams to appear in the USA is eclipsing the British by quite a large amount. Fraud, which was finally thwarted in 2013, affected an 18-strong band of New York-based crooks who robbed a combined 200 million US dollar. Then they hired clandestine agents to build flawless credit stories for their fake identity so they could compete for high limits credit card and high value credit.

Fortunately, credit card scams have become more challenging than ever, and as more and more safeguards have been put in place, the number of cases has declined constantly. Cardholders of credit cards in the UK have various laws and regulations to prevent them from being defrauded and to oblige the victim to make a refund.

75 of the Consumer Credit Act means that if you are a fraudulent merchant and you are a fraudster, both the merchant and your credit card acquirer will be held criminally responsible. That means that any funds you lose as a consequence of such fraud should be returned to you by the credit card companies.

Launched in 2009, the Payment Services Ordinance operates on the same principle: it insures you against unauthorized transaction for which your card is used and obliges the card publisher to provide you with a reimbursement.

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