A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many of the new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase.
Internet fraud is a type of cybercrime fraud or deception which makes use of the Internet and could involve hiding of information or providing incorrect information for the purpose of tricking victims out of money, property, and inheritance. Internet fraud is not considered a single, distinctive crime but covers a range of illegal and illicit actions that are committed in cyberspace. It is, however, differentiated from theft since, in this case, the victim voluntarily and knowingly provides the information, money or property to the perpetrator. It is also distinguished by the way it involves temporally and spatially separated offenders.
Chargeback fraud, also known as friendly fraud, occurs when a consumer makes an online shopping purchase with their own credit card, and then requests a chargeback from the issuing bank after receiving the purchased goods or services. Once approved, the chargeback cancels the financial transaction, and the consumer receives a refund of the money they spent. Dependent on the payment method used, the merchant can be accountable when a chargeback occurs.
Payment cards are part of a payment system issued by financial institutions, such as a bank, to a customer that enables its owner to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer with a payment terminal and access automated teller machines (ATMs). Such cards are known by a variety of names including bank cards, ATM cards, client cards, key cards or cash cards.
Voice phishing, or vishing, is the use of telephony to conduct phishing attacks.
Telemarketing fraud is fraudulent selling conducted over the telephone. The term is also used for telephone fraud not involving selling.
The payment card industry (PCI) denotes the debit, credit, prepaid, e-purse, ATM, and POS cards and associated businesses.
The Green Dot Corporation is an American financial technology and bank holding company headquartered in Austin, Texas. It is the world's largest prepaid debit card company by market capitalization. Green Dot is also a payments platform company and is the technology platform used by Apple Cash, Uber, and Intuit. The company was founded in 1999 by Steve Streit as a prepaid debit card for teenagers to shop online. In 2001, the company pivoted to serving the "unbanked" and "underbanked" communities. In 2010, Green Dot Corporation went public with a valuation of $2 billion. Since its inception, Green Dot has acquired a number of companies in the mobile, financial, and tax industries including Loopt, AccountNow, AchieveCard, UniRush Financial Services, and Santa Barbara Tax Products Group.
Internet fraud prevention is the act of stopping various types of internet fraud. Due to the many different ways of committing fraud over the Internet, such as stolen credit cards, identity theft, phishing, and chargebacks, users of the Internet, including online merchants, financial institutions and consumers who make online purchases, must make sure to avoid or minimize the risk of falling prey to such scams.
Paysafecard is a prepaid online payment method based on vouchers with a 16-digit PIN code, independent of bank account, credit card, or other personal information. Customers can purchase vouchers at local sales outlets and pay online by entering the code at the checkout of the respective website. Paysafecard codes are not designated to be passed by mail or telephone.
Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The Payment Card Industry Data Security Standard is the data security standard created to help financial institutions process card payments securely and reduce card fraud.
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt. The card issuer creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards, and a few gemstone-encrusted metal cards.
Neteller is an e-money transfer service used to transfer money to and from merchants, such as forex trading firms, social networks firms. Users in some locations can withdraw funds directly using the Net+ card or transfer the balance to their own bank accounts, others are restricted.
Peoples Trust Company, operating as Peoples Group, is a Canadian financial services company based in Vancouver, British Columbia. Peoples Group operates as a trust company and also maintains a chartered bank subsidiary, Peoples Bank of Canada. It is a subsidiary of the Alberta-based holding company Triple Five Group and maintains offices in Vancouver, Calgary, and Toronto.
A technical support scam, or tech support scam, is a type of fraud in which a scammer claims to offer a legitimate technical support service. Victims contact scammers in a variety of ways, often through fake pop-ups resembling error messages or via fake "help lines" advertised on websites owned by the scammers. Technical support scammers use social engineering and a variety of confidence tricks to persuade their victim of the presence of problems on their computer or mobile device, such as a malware infection, when there are no issues with the victim's device. The scammer will then persuade the victim to pay to fix the fictitious "problems" that they claim to have found. Payment is made to the scammer through ways which are hard to trace and have fewer consumer protections in place which could allow the victim to claim their money back, usually through gift cards.
Carding is a term describing the trafficking and unauthorized use of credit cards. The stolen credit cards or credit card numbers are then used to buy prepaid gift cards to cover up the tracks. Activities also encompass exploitation of personal data, and money laundering techniques. Modern carding sites have been described as full-service commercial entities.
An IRS impersonation scam is a class of telecommunications fraud and scam which targets American taxpayers by masquerading as Internal Revenue Service (IRS) collection officers. The scammers operate by placing disturbing official-sounding calls to unsuspecting citizens, threatening them with arrest and frozen assets if thousands of dollars are not paid immediately, usually via gift cards or money orders. According to the IRS, over 1,029,601 Americans have received threatening calls, and $29,100,604 has been reported lost to these call scams as of March 2016. The problem has been assigned to the Treasury Inspector General for Tax Administration.
Elder financial abuse is a type of elder abuse in which misappropriation of financial resources or abusive use of financial control, in the context of a relationship where there is an expectation of trust, causes harm to an older person.
Global Payments Inc. is an American multinational financial technology company that provides payment technology and services to merchants, issuers and consumers. In June 2021, the company was named to the Fortune 500. The company processes payments made through credit cards, debit cards, and digital and contactless payments.
Utility scams are fraudulent acts where a perpetrator calls or arrives unannounced at a utility customer's house in an attempt to take money or sell unnecessary energy accessories through misrepresentation. Often, the fraud involves telling the victim that he or she owes the utility company money and that their power, gas, or water will be shut off immediately unless payment is made.
