User:Nicolette Smith1/sandbox

Fraud prevention is very important in todays society.

"Fraud: 1 a: DECEIT, TRICKERY. specifically : intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right

was accused of credit card fraud ". There are many types of fraud that need to be watched for, such as mail fraud, identity theft, and most the most popular which is credit and debit card fraud. First well look at mail fraud in order to properly understand what happens in different types of fraud. "A person commits mail fraud when the scheme involves the mailing of something associated with the fraud. Mailing contracts, receipts, and communications regarding a fraudulent deal could all meet the law's requirements. " In simpler terms mail fraud is committed when an item that is involved in the fraud is put through the mail. Next we will look at identity theft. Identity theft occurs when someone takes your personal information and poses as you for different reasons. "Identity theft happens when someone uses your Social Security number or other personal information to open new accounts, make purchases, or get a tax refund. " Lastly we will look at credit and debit card fraud. Credit and edit card fraud occurs when someone steals your credit/debit card information in order to make purchases. "Credit card fraud happens when someone — a fraudster or a thief — uses your stolen credit card or the information from that card to make unauthorized purchases in your name or take out cash advances using your account. "

There are many systems already in place to prevent these crimes from happening, but it still manages to happen. Popular actions to prevent frauds include, using a system of checks and balances, restricting use of certain cards, and examining bank statements. Using a system of checks and balances will ensure that your payments are being handled properly, "Require purchases, payroll, and disbursements to be authorized by a designated person. Separate handling (receipt and deposit) functions from record keeping functions (recording transactions and reconciling accounts). " Credit/ Debit card fraud can be caught if you check your bank statements and see a purchase or purchases that you know where not authorized by yourself. In some occasions if the purchase was made in a unusual state or if the amount of the purchase differs from any purchase you've made before your bank will contact you and ask you if it was you and warn you that there could be fraudulent action in your account.

In the future there is more prevention techniques being made in order to catch the fraudulent action from occurring. I know that some include facial recognition at the ATM, along with fingerprint scanning. These techniques will be extremely useful, but also extremely personal. There are issues surrounding this new technology as some people do not feel comfortable with the government having information like that, although they already do. This can be a big leap in the prevention of credit/ debit card fraud and even identity theft.