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Payment Fraud - Coggle Diagram
Payment Fraud
Check Fraud Rings
scanner, printer,
and personal computer
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Smart cards
Plastic, credit-card-sized cards that are embedded with a microchip
smart cards cannot be easily
replicated or counterfeited; thus, they are generally more secure
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Prepaid Card Fraud
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Schemes
Use stolen payment cards to purchase prepaid debit or gift cards, thus quickly converting the illicit payment card funds into a legitimate cash equivalent.
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Mobile Payments
Typically made through contactless technology, such as digital wallets or
applications—also known as in-app payments
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Accounts Takeover Fraud
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hackers commonly create code that can run credentials obtained from
a data breach at one company to see if they are valid at another
Once the thief overtakes an account, communication methods and contact information are altered.