Understanding What Credit Card Fraud Can Look Like
Credit card fraud doesn’t just involve mysterious charges from overseas or charges for seemingly endless electronics; it takes many forms and can happen accidentally. Just signing a credit card slip for someone, even with their permission, can lead to trouble. How might this play out for college students? Envision the closing time scramble at college bars when (likely) everyone has had too much to drink, and the tab needs to be paid. The following conversation ensues:
“I don’t have enough cash. Can you pay? I’ll Venmo you.”
“I can’t use my card; my parents will kill me!”
“The Uber will be here in two minutes; we need to figure this out…”
Finally, someone, perhaps underage, offers a card and another friend, perhaps of-age, heads off to the bar to close the tab. As credit card fraud continues to rise, merchants and banks are taking more precautions than ever to flag fraudulent transactions, so it’s important that students understand what credit card fraud can look like. Read more…
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