| Most of our transactions are now made | | | | card fraud protection, and don't hold you |
| electronically, by credit or debit card. It is getting | | | | responsible for purchases you don't make. If you |
| to the point where cash has become obsolete. | | | | notice strange transactions being made you can |
| Why risk carrying a few hundred in cash on you | | | | just call up your credit card company and they will |
| when there is the risk of losing your wallet or | | | | waive those charges and begin an investigation. |
| getting robbed? When you lose cash there is | | | | This is a huge step in the right direction, but |
| nothing you can do to see it again. | | | | consumers are still a long way from being |
| While this dependence on electronic transactions is | | | | protected from identity theft. This is a crime that |
| mostly a good thing, it does have some | | | | is similar to credit card fraud, but taken to the |
| downsides. In recent years, credit card fraud and | | | | next level. Instead of stealing your credit card |
| identity theft are quickly becoming the most | | | | number, they steal your identity and use that to |
| common white-collar crimes. | | | | get credit by pretending to be you. |
| In the past all a criminal had to do to commit | | | | The credit card fraud insurance provided by |
| credit card fraud would be to get a hold of your | | | | banks and credit card companies usually does not |
| credit card number and expiration date. If you | | | | help with this situation, because it looks like you |
| didn't have credit card fraud insurance you would | | | | are the one asking for, and receiving, the credit. |
| usually be stuck with the bill. However, credit card | | | | Since the criminal is pretending to be you, you |
| companies have done a lot of work in protecting | | | | must go through hundreds of hours or red tape |
| their customers from simple credit fraud. | | | | to prove your innocence. A simple case of |
| Credit cards are now equipped with a security | | | | identity theft can destroy the credit you have |
| code, which must be entered for most online | | | | worked years to build in just a matter of |
| transactions. For cards you already own, most | | | | seconds. |
| companies now provide comprehensive credit | | | | |