Top Question:
What are common types of card fraud?
Best Answer:
- Card Not Present: Stolen card numbers used for online or phone purchases.
- Identity Theft & Application Fraud: Using personal data to open unauthorized card accounts.
- Synthetic Identity Creation: Combining real data (like SSNs) with fake details to open fraudulent accounts.
- Account Takeover: Scammers gain access to your account, lock you out and spend funds.
- Lost or Stolen Cards: Physical cards used for unauthorized purchases.
- Ghost Tap-to-Pay Fraud: Malware targeting virtual wallets, one-time passcodes and banking data.
