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Is credit card fraud taken seriously in America?

On Behalf of | Feb 14, 2021 | bank fraud | 0 comments

If you face accusations of credit card fraud, you might wonder how seriously the courts treat it. When it comes to laws related to financial entities, keep in mind that when crimes affect banks and investors, the government tends to come to their aid. The local jurisdiction also makes a difference.

While some cases still fall into the category of minor offenses, the possibility of prison time still exists. Felony-level charges increase the risk of going to prison.

Use of devices

According to Nerdwallet, how prosecutors claim you completed the act can make a difference. Local jurisdictions prosecute for general fraud, but the federal government can become involved for the alleged use of certain devices. These include skimmers.

Minor offenses

If prosecutors determine you committed a minor offense, the result might amount to fines, jail time or both. This might not seem like a big deal, in the grand scheme of things, but these charges have lasting effects on your employability. If successfully prosecuted, several fields might remain closed to you for a lifetime.

Major offenses

Each state has its own laws regarding identity theft. These individual laws determine the severity with which prosecutors treat alleged crimes. Note that if the crime occurs across state lines, the FBI might become involved.

Criminal history

If you have no criminal history, Nerdwallet hypothesizes that you might have a better chance of getting off easy. However, if you have a few items on your criminal history record, the judge might decide to make a lesson out of you.

Credit card fraud costs American companies billions of dollars each year. Because of this, local and federal governments might continue to crack down hard on all activity they deem suspicious.