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Access device fraud and related financial crimes
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An informant once said to us, “Man, you have to be crazy to use a gun to hold up a bank; those credit cards can get you the same thing with no risk.” Whether it be filling out fraudulent applications, stealing cards from the mail, or taking over legitimate accounts, it can be done — “You have to pick them though, watch out for the good banks; they’ve got systems to catch you if you don’t know what you are doing. They come down on you hard, too!”
Credit card fraud or access device fraud is the first choice of many criminals in the world of financial crime. Why? Simply because the criminals are taking advantage of the fact that we are becoming a global plastic society. Consumers in the United States spend a significant amount of money on plastic each year, and, as we approach the new millennium, credit card use will more than double, as will the need for an access device to contain information for a variety of consumer uses. The computer age has allowed this initially simple device to become a conduit to the information superhighway. Whether intended for use at automated teller machines or on the Internet, this device is capable of housing a microchip with unbelievable amounts of information ... not only for the security of the card, but also to store and transmit unlimited information for business transactactions or even, for example, receiving health care benefits by its user. Hence, the organized crime market has become very interested in access devices.
How can these criminals best benefit from (and how can they beat) the financial institutions, retailers, and consumers? Our book is the culmination of frontline experience and is a reference text that will afford the student, financial investigator, or law enforcement professional true insight into this growing crime. We will cite case studies and take you to the scene of several of our already adjudicated cases. Our goal has been to make this text an ongoing reference, practical and easy to understand for the novice in the financial crime discipline. Our intent is for you to feel the intensity and magnitude of these crimes which require expert investigative skills and to under- stand how much patience you must have in solving this type of crime, which often involves arduous months of street work, as well as meticulous analytical evaluation. Another requirement is connections and communication with the International Association of Financial Crimes Investigators (IAFCI, formally called the IACCI), which is discussed in the tex
erry Iannacci and Ron Morris - Personal Name
1st Edtion
0-8493-8130-4
NONE
Access device fraud and related financial crimes
Management
English
CRC Press LLC
2000
USA
1-153
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