On Jan 17th, 2008 a sting operation in Vancouver, BC thwarted a ring of credit card counterfeiters living the life of luxury entirely funded with other people's credit. The goods hauled away by police filled several 3 ton moving trucks and values were estimated between $70 000 and $100 000 dollars. The perpetrators had used stolen and manufactured identities to finance everything from high end cameras, televisions, and jewelery to automobiles and a multi-million dollar home. Accounts seized were valued at over $10 million dollars.

Credit card fraud is a multi-billion dollar crime in North America. It is becoming an increasingly popular form of identity theft because of advances in printing technologies and it can be done anonymously with little or no risk of prosecution even if it is discovered. Often card numbers are used to make purchases over the phone or internet, but sometimes advanced schemers may create an actual copy of your credit card complete with magnetic stripe, signature, and security features.

Scam artists have dozens of ways of gathering your information. It may be as simple as convincing an employee at a restaurant, or gas station to copy down credit card numbers throughout the day, or as advanced as planting a bug on point of sale equipment, or even unplugging and replacing a card reader right off the checkout table in a retail outlet. Skimming is the most common and fastest way schemers collect credit card data. The individual carries a small box the size of a pager or cell phone. In the past you had to make a skimmer yourself, however now they can be purchased various places online. By swiping your card the device pulls all data required for counterfeiting right off the card, which can be later downloaded to a computer. Often the data is sent overseas to factories that produce high quality fraudulent cards by the thousands. Cards are then sent out to crime rings throughout the world.

Some of the standard security features found on most types of cards include embossing, micro printing, and printing only visible under black light or ultraviolet light. As technology improves, so does the need for increased security features. Some cards now contain a microchip inside of them which is almost impossible to replicate. Countries that have implemented this system have seen a reduction of this type of credit card fraud reduced by as much as 80%. Some countries also require a PIN number be entered at the time of credit card processing as well. It is the responsibility of store managers to implement procedures to protect customer's information.

Credit card providers, such as Visa and MasterCard have security procedures and protocols businesses must abide by in order to safeguard both the merchant account and the individual. If you do notice someone has skimmed your card during a transaction call the provider and put a hold on the account. Make a mental note of the individual's physical description, such as height, weight, hair or eye color, skin tone, and what clothing they are wearing. Immediately report the suspicious individual to law enforcement.

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