Services provided by financial institutions involving the issuance and management of credit cards, allowing individuals and businesses to borrow funds up to a pre-approved limit for purchasing goods and services or cash advances, subject to interest and repayment terms. These services often include rewards and benefits for cardholders.
Main/
Credit Card Services
[]
Code
PS0005
[]
Name
Credit Card Services
[]
Version
1.0
[]
Category
Lending & Credit
[]
Created
2025-03-12
[]
Modified
2025-04-02
Related Techniques
- Criminals apply for credit cards under synthetic or stolen identities, establishing credit histories that appear legitimate.
- With access to credit lines under false credentials, they can layer or transfer illicit funds through everyday transactions or cash advances.
- Criminals use alternate passports to apply for credit cards under multiple identities.
- Parallel credit lines facilitate swift movement and layering of illicit funds.
- Discrepancies in identities linked to these cards make transaction monitoring difficult.
- Criminals use stolen or unverified credit card details to purchase in-game currency from gaming platforms, injecting illicit funds into the gaming ecosystem under a veneer of legitimate microtransactions.
- The rapid, user-friendly nature of credit card payments allows high-volume or repeated transactions to appear as standard consumer activity, masking stolen funds.
- Offenders apply for credit cards under false or stolen identities, exploiting banks’ reliance on personal data checks.
- This allows them to make unauthorized purchases or extract cash advances, leaving legitimate cardholders or institutions to bear the losses.
- Criminals deliberately overpay a credit card account to create a large positive balance.
- They then request a refund or withdrawal of the surplus, receiving seemingly legitimate payouts from the card issuer.
- The issuer’s refunds appear as standard transaction credits, hiding the illicit origin of the overpaid funds.
- Criminals use credit cards (often with stolen or synthetic identities) to file fraudulent disputes, claiming non-delivery or defective goods.
- They may exploit corporate or third-party cards to obscure the true origin of funds, manipulating the card network’s chargeback process to move illicit proceeds.
- Launderers use stolen or fraudulent credit cards to fund gambling accounts, systematically losing chips to conspirators’ accounts.
- The conspirators later withdraw the improvised 'winnings' under the guise of legitimate gameplay proceeds, effectively laundering the illicit card-funded amounts.
- Mules are instructed to open or use existing credit card accounts to handle illicit deposits, often disguised as legitimate transactions.
- Criminals direct them to perform cash advances or fraudulent purchases, dispersing criminal proceeds and obscuring their source.