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Study on Awareness of Credit Card Frauds


Affiliations
1 Mumbai Educational Trust, Institute of Management, University of Mumbai, India
2 UGC-NET, Mumbai Educational Trust, Institute of Management, University of Mumbai, India
 

Plastic money is a new trend in the economy which is a suitable alternative for cash payment. Credit card is one of them. It is a plastic card issued by a Bank and a Non-Banking Financial Company ready to lend money to its customers. It encourages the customers to spend on goods and services, based on the credit sanctioned to them. This limit relies on the earning capability of the individual. The repayment is done along with interest either after a period of 45 days or on monthly billing basis. There are pros and cons of using the credit card. Increasing fraud amongst its users is the main drawback. The problem of fraud is a serious issue in e-banking services that threaten the credit card transactions. Fraud is a public law violation in which the fraudster gains an unlawful advantage or causes unlawful damage. The survey enlightens upon the awareness of the credit card frauds among its users.

Keywords

Awareness, Credit Card, Fraud, Repayment, Unlawful.
Notifications

  • Anju Rohilla, Ipshita Bansal(2015, April-June).” Credit Card Frauds: An Indian Perspective”, Volume 2, Issue 6, pp. 591-597

  • Delamaire,L, Abdou, HAH and Pointon, J(2009). “Credit card fraud and detection techniques: areview”, Volume 4 Issue 2

  • K.Kathirvel(2013, March).”Credit card frauds and measures to detect and prevent them",Volume 2 Issue 3 Karthik G Menon, Mahima Balan, M. Soumya Krishnan(2017, July).” An Investigative Research on Fraud Analysis in Digital Banking”, 11-special issue.

  • Linda Mary Simon, S.Saravanan(2012, November). “A Study on Customers Satisfaction TowardsCredit Card Services Provided by State Bank of India, with special reference to Coimbatore City ”,Volume 2, Issue 2.

  • N. Sivakumar, R.Balasubramanian(2015). “Fraud Detection in Credit Card Transactions: Classification, Risks and Prevention Techniques”, Volume 6, Issue 2.

  • S.Sudhagar( 2012, July-Aug). “A Study on Perception and Awareness on Credit Cards among Bank Customers in Krishnagiri District”, Volume 2, Issue 3, P P 14-23.

  • Suman, Mitali Bansal (2014, March). Survey Paper on Credit Card Fraud Detection, Volume 3 Issue 3.

  • Suman, Nutan(2013, July). “Review Paper on Credit Card Fraud Detection”, Volume 4, Issue7


Abstract Views: 284

PDF Views: 111




  • Study on Awareness of Credit Card Frauds

Abstract Views: 284  |  PDF Views: 111

Authors

Amod Jadhav
Mumbai Educational Trust, Institute of Management, University of Mumbai, India
Varsha Hanchate
Mumbai Educational Trust, Institute of Management, University of Mumbai, India
Pranita M. Waghmare
UGC-NET, Mumbai Educational Trust, Institute of Management, University of Mumbai, India

Abstract


Plastic money is a new trend in the economy which is a suitable alternative for cash payment. Credit card is one of them. It is a plastic card issued by a Bank and a Non-Banking Financial Company ready to lend money to its customers. It encourages the customers to spend on goods and services, based on the credit sanctioned to them. This limit relies on the earning capability of the individual. The repayment is done along with interest either after a period of 45 days or on monthly billing basis. There are pros and cons of using the credit card. Increasing fraud amongst its users is the main drawback. The problem of fraud is a serious issue in e-banking services that threaten the credit card transactions. Fraud is a public law violation in which the fraudster gains an unlawful advantage or causes unlawful damage. The survey enlightens upon the awareness of the credit card frauds among its users.

Keywords


Awareness, Credit Card, Fraud, Repayment, Unlawful.

References





DOI: https://doi.org/10.17697/ibmrd%2F2019%2Fv8i2%2F147853