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NCJRS Abstract

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NCJ Number: 158310 Find in a Library
Title: Counterfeit Card Fraud
Journal: Gazette  Volume:57  Issue:10  Dated:(October 1995)  Pages:2-10
Author(s): S Clarke; M Duncan; R Crisp
Date Published: 1995
Page Count: 9
Type: Survey
Format: Article
Language: English; French
Country: Canada
Annotation: Payment card fraud involving the fraudulent use of both credit and debit cards has escalated in Canada in recent years, in part because counterfeit payment cards are difficult to identify.
Abstract: The two major credit card companies in Canada are Visa and MasterCard. Financial institutions affiliated with these companies have issued about 25 million credit cards, 55,475 of which were used fraudulently in 1993. These companies lost over $72 million to credit card fraud in Canada in 1993. Of the $72 million, $16.8 million (23.4 percent) involved counterfeit activity. The Canadian Bankers Association reports a dramatic rise in counterfeit credit card fraud across Canada, and there is evidence of significant organized crime involvement in such fraud. The financial industry is relatively small in Canada, and the system for completing a credit card transaction has been developed to facilitate sales. Further, credit information is readily available and easily transferable among criminal groups. A concern of law enforcement is that fraudulent documents providing false identities for criminals can be used to conceal their true identities. Counterfeiters can enter the country legally using their own papers, travel throughout Canada committing crimes using fraudulent documents, and then leave the country legally. Stages involved in the distribution and fraudulent use of payment cards are detailed, and forecasts of the potential growth in counterfeit payment cards are made. The role of forensic examination in differentiating between counterfeit and genuine payment cards is examined.
Main Term(s): World criminology
Index Term(s): ATM-related crimes; Bank fraud; Canada; Counterfeiting; Credit card fraud; Crime in foreign countries; Foreign police; Forensic sciences; Organized crime
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