Do Police Investigate Credit Card Theft?

If you own a credit card, the chances are rather high that you will become a victim of credit card theft at some point in your life. From large-scale data breaches to your wallet being stolen, theft and fraud do happen quite often. To limit your chances of this happening to you, taking the necessary steps is vital. 

Do Police Investigate Credit Card Theft?

Rarely. Not because the police don’t want to, but because they simply can’t. This is inherently due to the nature of the crime itself. First, credit card fraud is seldom reported. With most consumers protected against any major liability, most cancel their cards at any sign of fraud. Furthermore, because of the relatively small sum of money involved in these fraudulent activities, banks and credit card companies opt to write it off as the cost of doing business or even sometimes force the retailer or merchant to take on the loss. 

Moreover, credit card fraud being a non-violent crime makes it less of a priority for a police force with already limited resources. And even in the off-chance that the fraud warrants an investigation, the police are unlikely to be able to pursue this case because most large-scale fraud is committed by overseas operations, which is out of their jurisdiction.

However, it is still a good idea to contact the police in case of credit card theft. If someone tried to scam you, chances are they have done this to many people. Just remember that the police generally won’t do much if it is a small isolated incident, so be sure to talk to your credit card issuer for help instead.

You should also immediately notify them of the theft of your credit card. By doing this, you can prevent any fraudulent purchases from disrupting your credit history and driving down your credit score. 

• Experian Fraud Alert Center: https://www.experian.com/fraud/center.html
• TransUnion Fraud Alert Center: https://www.transunion.com/fraud-alerts
• Equifax Fraud Alert Center: https://www.equifax.com/personal/credit-report-services/credit-fraud-alerts/

>>Related: What Do I Do If My Credit Card Has Been Compromised

How should you protect yourself from credit card fraud?

While there is little to nothing that police can do about credit card fraud, that does not mean that all hope is lost. The good thing is that under federal law, your liability is capped at $50, assuming that you report these unauthorized charges to your card issuer in a timely manner. Also, because most major credit card issuers offer zero liability fraud policies, you will most likely end up paying nothing in those cases. 

Some credit cards will also come with features to help protect consumers when they shop online. For example, the Apple Card offers a single use virtual card for cardholders to use when they shop online. Even if there is a data breach at an online store, cardholder information is still protected.

You should still take active steps to protect yourself as credit card fraud, regardless of these protections, is still undesirable. Having to contact your card issuer, cancel your current card, and waiting for your new card to come in the mail is not ideal. As a result, following good safety practices is a must. So be aware of phishing techniques used by those hoping to get access to your financial information, and make sure to keep an eye on all of your financials in order to notice any potential fraudulent activity. And most important, notify your credit card issuer as soon as you notice fraudulent activity.

>>Related: 5 Ways to Keep Your Credit Card Secure

Conclusion

While police often do not have the jurisdiction to go after credit card fraud, that does not mean that you are without protection. With federal protection from liability and most card issuers offer zero liability protection, you will rarely have to pay anything in cases of fraud. You can see our top rated credit cards with this feature or in the Featured Offers list.

In any case, to limit these potential headaches remember to follow safety procedures, use common sense, and report any fraudulent activity to your issuer as soon as possible.

>>Related: What Do I Do If My Bank Account Is Compromised?