Credit card fraud and identity theft: a case study in Malaysia

Abstract

Credit card industry is one of the major components of financial institutions in Malaysia. The crimes related to credit card and identity theft of late is increasing drastically. Credit card theft varies in terms of techniques and methods used and it’s crucially important to review and improvise the existing prevention method to reduce the number of crimes related to credit card and identity theft. This study also aims to analyze the recent studies and their findings regarding credit card and identity theft. This article contains information about credit card and identity theft, impact of TN50 implementation and also other fraud prevention methods being practiced internationally. There are plenty of methods being practiced to prevent credit card related frauds which is issue specific and it needs appropriate availability of technology to implement it. The methods that are discussed and considered in this article will definitely play a vital role in terms of cost savings and time efficiency.