Have you recently noticed strange charges on your credit card bills? If your bank account is suddenly less than it should be, it’s time to get alarmed. These issues can be due to you becoming a victim of fraud. This is a crime of the white collar variety that affects millions of people in Illinois and elsewhere.
How does your credit card company respond to fraud?
White collar fraud is no laughing matter. This is an issue that costs taxpayers and credit card companies billions of dollars every year. The problem has become even more widespread in the internet age. As a result, credit card companies are adopting the use of measures that can detect and put a stop to it.
Many credit card companies will take steps to begin an investigation the very moment that they suspect fraud. For example, Visa will check with you to make sure none of your other accounts have been broken into. It will then communicate with credit bureaus, the FBI, and other agencies.
How can you report credit card fraud?
If you believe you have been the victim of credit card fraud, you can take immediate action. You may notice strange charges on your Annual Credit Report. If this is the case, you can contact a major credit bureau, such as Experian, Equifax, or TransUnion. They can then look into the problem to see if fraud is the cause.
Equifax has a standing guarantee that it will alert the two other bureaus if fraud is detected. It will then work with both of them to find the cause of the issue. This is the best way to dispute the fraudulent info and get it removed from your credit history. It can lead to criminal charges for the perpetrator.