Fraud Types

Know The Three Main Types Of Card Fraud

ALTERED/COUNTERFEIT CARDS

On an altered card, the name, expiration date, account number, and/or the magnetic stripe have been changed in some way. Counterfeit cards are "fake" manufactured cards that bear a valid account number. A valid card number may appear on the front of the card, in the magnetic stripe on the back of the card, or in both places.

LOST/STOLEN CARD

A card is stolen from the cardholder and used fraudulently to purchase goods or services from a legitimate merchant.

MAIL ORDER/PHONE FRAUD

Someone other than the authorized cardholder obtains a MasterCard account number (often with the expiration date of the account and card validation code from the back of the card) and uses it to purchase goods or services by mail or by phone.

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