Debit Card Fraud Law and Legal Definition
Debit card fraud refers to a fraud that is committed in relation to debit card accounts by using a debit card to immediately withdraw funds from a consumer’s account. For instance, a perpetrator of this fraud who steals a debit card will use that card to purchase goods from various merchants. Debit card fraud is easy to commit because a debit card works in the same manner as that of a credit card. While making a purchase, the card is swiped and the debit card holder must sign for the purchase without disclosing their personal identification number (PIN). Since most merchants do not ask for identification, a perpetrator of this fraud can simply produce the card and forge the original account holder’s signature.