MANAGEMENT

Detailed explanation-1: -Credit card fraud is considered a form of identity theft. Thieves are using a portion of your identity-your credit card information-to make fraudulent purchases or to access cash advances.

Detailed explanation-2: -The biggest difference between credit risk and fraud risk is intent. Credit risk usually involves customers who received the goods/services with intent to repay but simply lack the resources to meet their obligation. Fraud risk starts with the intent to receive the goods/services without the intent to repay.

Detailed explanation-3: -allows you to build up more debt than you can handle. damages your credit score if your payments are regularly late or you don’t repay. costs much more than some other forms of credit, such as a line of credit or a personal loan, when interest charges are incurred.

Detailed explanation-4: -Credit card fraud refers to a scammer using your credit card number and PIN or your stolen credit card for financial transactions from your account and without your knowledge.