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10.06.2012

credit card fraud statistics


Card fraud strikes millions of times every year and is one of the fastest growing white-collar crimes. At American Express Middle East, we work closely with law enforcement authorities to fight Card fraud and invest heavily in customer and retailer education that can help minimise the incidence of Card fraud.

The information and services in the Fraud Protection Center can help reduce your chances of becoming a victim. We are committed to preventing lost, stolen or unauthorised Cards from being used and will move quickly to halt their use and prevent unauthorised charges.


Anti Phishing Alert:

You may receive an email or SMS that asks you to disclose or complete an American Express Middle East Customer Form as a security measure. This is false!

American Express Middle East will never ask you to verify your details in this manner. Should you receive any messages by SMS or emails from American Express Middle East asking for your Card Number and/or security details, please contact our 24/7 Customer Services immediately on +973 17557755 for assistance. By following helpful tips about using your Cards wisely, you can significantly lessen the chances of being a victim of Card fraud.


visa credit card fraud protection
credit card fraud statistics

Identity theft and credit card fraud are not the same crime, though the two are often lumped together as one. Identity theft is much more far-reaching than credit card fraud. When a criminal steals you identity, they may have financial motivation, but you'll suffer more than fraudulent charges on your credit cards.

Identity thieves may change account information, create new accounts, use your identity to commit crimes, and even use your identity to establish a new life. Credit card fraud, on the other hand, is limited to charges on stolen credit card numbers. A criminal gains access to your account number and then uses it to purchase products online or in person and then resells those goods to get the cash.

So, if credit card fraud is not identity theft, why address it? The simple answer is because credit card fraud can be an element of identity theft. It can also lead to identity theft.

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