Credit card fraud in Trinidad and Tobago

Dave Arthur Williams

Journal of Financial Crime, 2007, vol. 14, issue 3, 340-359

Abstract: Purpose - The purpose of this paper is to discuss credit card fraud in Trinidad and Tobago. Design/methodology/approach - The paper describes credit card typologies in Trinidad and Tobago and the existing law governing such fraud. It outlines the success and inadequacies of the enforcement machinery and issues involving credit card fraud detection and prevention. Findings - The law regarding credit cards is in a very confused and unsatisfactory state in Trinidad and Tobago. Education in counteracting the criminal activities of credit card fraudsters is vital. Informing the public of the various fraudulent typologies relative to credit cards and at the same time, advising members how to protect themselves are the most effective methods to address the fraud problem. The Bankers Association of Trinidad and Tobago should also play a critical role in addressing credit card fraud. The association should formulate credit card policies along similar principles as those formulated for cheque fraud to benefit all banks and merchants. Originality/value - Credit card fraud has only been a recent phenomenon in Trinidad and Tobago. This paper is valuable in offering suggestions as to the way forward in the prevention of such fraud.

Keywords: Fraud; Credit cards; Trinidad and Tobago (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:13590790710758521

DOI: 10.1108/13590790710758521

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