- Use the Internet or the Strayer Library to research articles on credit fraud, select one (1) credit fraud case which interests you the most. Be prepared to discuss
From the e-Activity, determine the key elements of credit fraud identification. Next, discuss the fundamental ways in which to detect credit fraud, and analyze the main reasons why it is difficult to prove such a fraud. Justify your response.
Argue for or against this statement: Merchants and their employees should subtly screen their customers by asking for two (2) forms of identification in order to prevent identity theft. Next, suggest at least one (1) additional method that a business owner could take in order to curtail identity theft. Justify your response.
RESPOND TO THE FOLLOWING STATEMENT:
Credit card fraud is when a person’s identity is stolen through the use of their credit card. The key elements of credit fraud identification are the charges being made, the withdrawal of funds from an account, stealing the actual card, and obtaining the cardholder’s account and personal information. Fraud is most commonly detected through an analysis of someone’s account. When the individual sees purchases on the account that they have not made, this is usually an identification of credit fraud. There are some individuals who have an identity theft protection plan. These programs monitor a person’s account for a small fee. When they see suspicious activity on the account, they will alert the cardholder for confirmation. In addition to these programs, most banks also have their own fraudalent protection services that they utilize for each customer. It may be difficult to detect some cases of fraud because the location and other pertinent information may be untraceable.