Riders on the Storm: An Analysis of Credit Card Fraud Cases
Suffolk Journal of Trial & Appellate Advocacy, Vol. XX, pp. 184-217, 2015
34 Pages Posted: 4 Jun 2015 Last revised: 17 Jul 2015
Date Written: 2015
Credit card fraud presents an impressive array of forms and methods, often involving sophisticated means, organized crime aspects, and very significant criminal proceeds. Based on an extensive inquiry that involved the study of a large number of credit card fraud cases brought to the United States federal courts in violation of 18 U.S.C. § 1029(a)(1)-(5), press releases from law enforcement organizations, and information security reports, this article discusses the legal elements, the essential perpetration aspects, and the most relevant sentencing enhancements for these crimes, and proposes a number of improvements. The contributions of this article can be used for a more effective legal and judicial response in the process of risk identification and mitigation, and for developing awareness and training programs. Although the article focuses on one jurisdiction, the findings, particularly those in the perpetration aspects section, and the conclusion would be useful to a global audience.
Keywords: Credit card, Fraud, Cybercrime, Intent, Access device, Identity theft, Counterfeit, Skimming, Phishing, Darknet, Hacktivism, Malware, Loss, Sophisticated means, Sentencing enhancement, Conspiracy, Extraterritorial application, Account takeover, Class action
JEL Classification: A10, F10, K10, K14, K39, K41, K42, L86, M10
Suggested Citation: Suggested Citation