Essays on Credit Card Fraud

On March 13th, 2013, I had the opportunity to go to Hennepin County Criminal Court and was able to observe a jury trial. The case that I sat in was about a credit card fraud that occurred at a gas station in New Hope Minnesota. The Defendant Mrs. Yesayan Gohar was charged with 8 counts of identity theft felony and Unlawful possession or use of scanning device or re-encoder. Mrs. Gohar was arrested in New Hope, Minnesota a long with…...

With the extensive use of credit cards, fraud appears as a major issue in the credit card business. It is hard to have some figures on the impact of fraud, since companies and banks do not like to disclose the amount of losses due to frauds. At the same time, public data are scarcely available for confidentiality issues, leaving unanswered many questions about what is the best strategy. Another problem in credit-card fraud loss estimation is that we can measure the loss…...