Analysis on the new types and countermeasures of credit card fraud in mainland China

Abstract

PurposeThe research on analysis on the new type and countermeasures of credit card fraud in mainland China mainly aims to take a comprehensive approach to fight against fraud and place a strong emphasis on fraud prevention conducted in the best interests of financial institutions, card holders, merchants and law enforcement authorities to keep fraud from happening in the first place and to give more information on anti‐credit card fraud best practices.Design/methodology/approachIn this paper, the authors analyzed the relevant definitions in Chinese statutes and ordinances, the new types of credit card fraud which have occurred in China in recent years and what would be the effective countermeasures to fight against and prevent them. It was completed based on many references and extensive survey in police organs in China.FindingsWith the credit card more and more widely used in mainland China as a most prevalent means of payment and settlement, credit card crime has been rapidly increasing to accompany this, with more fraudulent and disguised features which add to the complexity and difficulties of the work on its combating and prevention.Originality/valueHopefully, it explores for the best to detect and combat credit card fraud crimes and can contribute to the healthy growth of bankcard industries, meanwhile calling for the involvement of the concerted efforts of the banks, merchants, the public and the law enforcement personnel.