Bank fraud is a common crime in Texas that includes many different facets of fraudulent behavior, such as credit and debit card fraud. According to the Texas Constitution and Statutes website, many financial institutions including banks, credit unions and companies that deal in savings and loans often experience this issue, as there are many ways people abuse these cards and accounts.
Taking steps to understand what qualifies as credit and debit card fraud may help Texas consumers and financial institution employees identify fraudulent behavior and protect themselves and the companies they work for.
Alteration of cards
Debit and credit cards are often subject to different types of alteration by those who seek to increase their value, transfer the card to another person or alter a card for their own personal use. In this case, individuals often attempt to also alter an expiration date to gain access to certain funds or credit they are not authorized to use. In most cases, any of these actions knowingly committed by an individual carries the consequence of a felony charge in Texas.
While gaining and transferring funds through electronic means has made it simpler for Texans to handle their money, it sometimes also makes it easier for unscrupulous persons to steal and use debit cards for their own use. In some cases, they may already have obtained the personal identification number. Individuals who find their card stolen can freeze the accounts, but it is wise to monitor them via electronic apps to ensure they identify any suspicious activity right away.
Penalties for debit and card fraud in Texas usually vary depending on the offense. Texas law statutes may change on occasion to update and amend certain offenses, as well as the consequences they carry.