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Then, they transferred money from the businesses’ accounts to individual accounts, and they withdrew cash from those accounts. They set up fake businesses and charged people for goods they never received. For instance, in 2015, two men from California defrauded 119,000 credit card holders. In these cases, the Federal Bureau of Investigation (FBI) and the U.S. There are federal laws related to using devices such as skimmers or counterfeit access equipment to commit the fraud. Generally, credit card fraud is a state crime, but in some cases, card fraud falls under federal jurisdiction. Other states have different laws, but they are often structured similarly. If the thief has four or more financial devices, the crime is a class five felony, and the penalty is one to three years in prison, fines up to $100,000, and mandatory parole for two years. In this state, possessing two or more financial devices (that includes credit cards, debit cards, check books, etc.) is a class six felony, and the penalties are 12 to 18 months in prison, fines of up to $100,000, and a year of parole. Most states have different levels of felonies depending on the state’s identity theft laws.įor example, in Colorado, possessing two or more credit cards illegally is a felony, but the class of felony varies based on the number of cards illegally in the thieves possession. Again, thieves may also have to pay restitution. Depending on the situation, thieves may face up to 15 years in prison and up to $25,000 in fines. In most states, if the thief uses a stolen credit card to buy goods or to get cash over the amount defined as a misdemeanor, the crime becomes a felony. He stole a card and purchased less than $1,000 in goods. For instance, in New York, a man was charged with a felony for possessing stolen property, a misdemeanor for identity theft, and petit larceny. In some cases, thieves are charged with multiple crimes, including both misdemeanors and felonies. Often, thieves are ordered to pay restitution to cover the losses suffered by their victims. If caught, the thief may face fines up to $1,000 and up to one year in the county jail. If the amount stolen is relatively small, for example under $500 or $1000, the fraud is likely a misdemeanor. Then, the laws outline the penalties based on the amounts involved. In other words, most laws related to credit or debit card fraud simply state that using a card fraudulently is illegal. Keeping on top of the different types of fraud from a legislative perspective is impossible, and to contend with that fact, the laws are written quite broadly so that they cover all types of credit card fraud. Thieves may steal credit card numbers, take the actual card, open new cards in the victim’s name, or commit fraud in other ways.

In most cases, as the amount increases, so too does the penalty.Ĭredit and debit card fraud takes several forms.

What happens if someone commits debit or credit card fraud ? What are the penalties for card fraud? People who commit credit or debit card fraud can face jail time and fines, but the exact penalties vary based on the extent of the fraud, the amount stolen, and the goods obtained.