What are the consequences of credit card fraud?

My teacher in my Economics class gave us a handout and we need to research on this. A man at his workplace took down credit card information, and used it to purchase an item online for 180.00. What we have to find out is if it is likely this case would be investigated, and what the consequences or punishments are for this action, as well as how likely he'd be caught. Does anyone know the details? Would an insurance agency typically not go full out on a transaction this low? In my opinion, i would think not because it wasn't a HUGE amount of money but I may be wrong.|||The Title 18 of the U.S. Code, Section 1029 provides the penalties for “fraud and related activities in connection with access devices,” where access devices refers to any means of account access, including credit cards, account numbers, and PINs, as well as telecommunications services and equipment. The laws in the code prohibit things such as producing, possessing, trafficking in, or soliciting for access devices with the intent to defraud.





Depending upon circumstances regarding the offense and how many counts one is charged with, it could carry a prison term of not more then 10 -20 years and fines as well as forfeiture to the United States of any personal property used or intended to be used to commit the offense.





That's Federal, now each state also has their own laws regarding the illegal use of ones credit card and/or information.





As to a small amount like that, I doubt anything will happen (unless this person has done it before).





Hope this helps answer your questioin


|||In most place over 200.00 is a felony. In most cases it would be up to the credit card company. The person is only affected if they say it was identity theft in this case it can be 1-5 years in jail a fine of up to $10,000 depending on the state. The variables is:


if it was done by mail,internet,phone fraud.


identity fraud.


amount.


State.


normally the person can get away with a settlement for the fine. It depends on if they have a lawyer and if the DA-district attorney has enough proof to convict. Most likely it would only be a fine and could be probation.





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