ABSTRACT
In 1996, the largest issuer of credit cards in the United States noticed significant losses in several areas of the country. The fraud-prevention department of a major bank card issuer noticed questionable point-of-sale transactions at several New York merchants. In 1992, special agents of the US Secret Service were the lead agents on a case while assigned to the Metro Alien Fraud Task Force in Washington, D.C. A search warrant was executed in a fraud scheme, and the search netted a major plot by suspects to steal and sell information from the Social Security Administration. Several other venues were also identified as the scheme unfolded. The schemes can vary from simply stealing information from legitimate customers to illegally processing the credit card transactions for non-approved venders. Sometimes a merchant will work in concert with the criminal to perpetrate the fraud.
