Friday, December 12, 2008

Credit card fraud, check forgery increasing

As the strength of the nation's economy remains in question, one expert said she believes an increase in credit card fraud and check forgery will continue through rough economic times.

Ellen Hein, manager and CEO of the Texas Tech Federal Credit Union, said she has seen an increase in the unauthorized use of credit cards and an increase in counterfeit checks that look like cashier's checks.

Hein said two cases of counterfeit checks were discovered in Lubbock during the last three weeks. Normally, it is common to see about one to two cases per year.

One of the most commonly seen scams, she said, is an e-mail stating the recipient was the winner of a lottery or similar contest.

Given the weakened economy, she said, she believes such cases will continue to increase.

Chief Ron Seacrist of the Tech Police Department said he also has noticed an increase in the number of reports of credit card abuse.

When a credit card is stolen and used, he said, the person normally will use the card within 24 hours, because after that time they may be unable to use the card.

Because of this, the department advises students to cancel as soon as possible, Seacrist said, and if the person uses the card before it is canceled, the department can use that location as a lead to find the person.

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