After arguing that global credit/debit card thefts cost over $1 billion a year, the author discusses the growing problems of identity theft and unauthorized credit card use. Maintaining that the card holder, the fraudster, the bank using the card, and the merchant’s location where the card is used are all involved in fraudulent credit card transactions, the author argues that professional criminals commit the majority of credit card crimes. After explaining that the United States accounts for more than half of the total worldwide credit card fraud, the author discusses various ways to “curb” the credit card fraud “menace.” Focusing on encryption on credit cards’ magnetic strips, on-line real-time bank authorization, smart cards using embedded computer chips, fraud control units, and law enforcement efforts, the author contends that educating merchants and customers about the problem of credit card fraud greatly reduces credit card crime. Because global credit card fraudsters are becoming more organized and sophisticated, managers of fraud examination efforts must have “watchdogs” to examine spending and payment patterns 365 days a year.