A stolen credit or debit card could be used for a significant amount of these transactions before the true owner can have the account cancelled. Card numbers – formally the Primary Account Number (PAN) – are often embossed or imprinted on the card, and a magnetic stripe on the back contains the data in machine readable format.
Fields can vary, but the most common include: The mail and the Internet are major routes for fraud against merchants who sell and ship products, and affects legitimate mail-order and Internet merchants.
There is also a new law that has been implemented that identification or a signature is only required for purchases above , unless stated in the policy of the merchant.
Card issuers have several countermeasures, including sophisticated software that can, prior to an authorized transaction, estimate the probability of fraud.The compromise can occur by many common routes and can usually be conducted without tipping off the card holder, the merchant, or the issuer at least until the account is ultimately used for fraud.A simple example is that of a store clerk copying sales receipts for later use.If the card is not physically present (called CNP, card not present) the merchant must rely on the holder (or someone purporting to be so) presenting the information indirectly, whether by mail, telephone or over the Internet.The credit card holder can be tracked by mail or phone.