Credit Card Fraud

Alessio DamianiSalah Al khadra

April 7 20101

a

Table of ContentsIntroduction 3Brief History of Credit Card 4Front and Back of a Credit Card 5What is Credit Card Fraud 6Methods of Fraud 7Tools of the Trade 8-9Example of a skim 1

0Famous Examples 11 -12Ways to Prevent Fraud 13Conclusion and Summary 14References 15

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Introduction

• Credit card fraud is easy and cheap

• It can happen to anyone

• I will help you understand it and prevent it from happening to you

3

Brief History of Credit Card

• 1951 Diners Club issues first credit cards

• Magnetic strips came out in the 1960s

• Now they are present everywhere

4

Front and Back of a Credit Card

5

What is Credit Card Fraud?

• Any theft or fraud using a credit card under someone else's name

• Connected to identity theft

• Usually used for cash advances or to buy goods

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Methods of Fraud• Where the card is not present

• Application Fraud

• Account Takeover

• Skimming

• Carding

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Tools of the Trade

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d

Tools of the Trade cont.

9

e

Example of a Skim

http://www.youtube.com/watch?v=U0w_ktMotlo&feature=related

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Famous Examples

11

• Albert Gonzales

•Responsible for biggest fraud in history

•Stole more than 170 million different credit card numbers

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Famous Examples cont.

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• Maksym Yastremski

• Associate of Albert Gonzalez

• serving time in Turkey for credit card theft there

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Ways to Prevent Fraud• Keep track of your credit card

• Use safe networks when internet banking

• Be wary of retail merchants

• Encryption

• Police investigations

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Conclusion and Summary

• Credit cards have been around for a while

• They are convenient

• There are many ways to replicate them

• Be careful when using them and protect yourself

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ReferencesPictures:a - http://businessminded.ca/post/110510243/pay-off-your-credit-card-on-time-now-you-will-be

b - http://en.wikipedia.org/wiki/File:Creditcardwcontactless.png

c - http://en.wikipedia.org/wiki/File:CCardBack.svg

d - http://cgi.ebay.com/ALDELO-POS-CREDIT-CARD-READER-SWIPER-MSR-BRAND NEW_W0QQitemZ200458549923QQcmdZViewItemQQptZLH_DefaultDomain_0?hash=item2eac42baa3

e - http://printers.idcardgroup.com/productdetails.aspx?item=P330i

f - http://en.wikipedia.org/wiki/File:Albert-gonzalez.jpg

g - http://www.reseaux-telecoms.net/images/actualite/000000002857.jpg

Works Cited

“Albert Gonzales”. http://en.wikipedia.org/wiki/Albert_Gonzalez.n.p.n.d.

“Credit Card Fraud”. www.en.wikipedia.org/wiki/Credit_card_fraud.n.p.n.d.

“History of Credit Cards”. www.didyouknow.org/creditcards/. Did You Know. February 6 2010

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THANK YOU!

Are There Any Questions?

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