Credit Card Fraud - 1910 Words

Running Head: Credit Card Fraud Impact of Credit Card Fraud Outline Card Credit Fraud Thesis Statement: Credit card fraud is an inclusive term for larceny and deception committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to attain goods without paying, or to achieve illegal resources from an account. Credit card fraud is also an appendage to identity theft. According to the Federal Trade Commission, while identity theft had been holding steady for the last few years, it saw a 21 percent increase in 2008..( Consumer Sentinel Network Data Book: January - December 2008 (PDF). Federal Trade Commission February 26, 2009.) The costs of card fraud in 2006†¦show more content†¦They require a personal identification number (PIN) which may also be a violation. Card holders have several countermeasures, including complex software which can assemble a vest interaction and guesstimate the possibility of fraud. For example, a large trade occurring in a great distance from the cardholder’s home might seem mistrustful. Merchants may be commanded to call the card holder for authentication, or reject the transaction or do whatever they want. Customers must call the issuer and prove t heir identity to get their card back. III. Compromised accounts Card bank account information is stored in a number of formats. Account numbers – formally the Primary Account Number (PAN) – are often stamped or imprinted on the card, and a magnetic streak on the back contains the data in machine readable format. Fields can vary, but the most common include: * Name of card holder * Account number * Expiration date * Verification/CVV code A. Card not present transactions The major routes of fraud which is contrary for merchants who sale and ship products are the mail and the internet as they affect legitimate mail-order and Internet merchants. The card should be present (called CNP, card not present) so the merchant can trust the issuer (or someone purporting to be so) issuers present their information in any way theyShow MoreRelatedCredit Card Fraud Essay3025 Words   |  13 PagesCredit Card Fraud: Overview, Analysis, and Recommendations Credit card fraud is a significant problem in the U.S. with losses exceeding $5.718 billion annually (Sullivan, 2010). Perpetrators are continually developing new methods to circumvent established and evolving fraud prevention controls. With economic expansion continuing its advance into the digital era and electronic forms of payments increasingly common, the problem of credit card fraud is likely to increase. Internet-based creditRead MoreCredit Card Fraud Essay2919 Words   |  12 Pagesform of credit card, brought in convenience and made life simpler for us, but along with it came the Pandora’s Box. While credit cards have made life easy for us, they have also managed to make life easy for the crooks. While enabling us to purchase things we fancy whilst seated on our couch, it has on the other hand made it easy for fraudsters to guzzle away money that is not truly theirs. In this paper, I would be: i. Problem Statement ii. Introducing the topic about credit card fraud iii.Read MoreCredit Card Fraud And Money Laundering2028 Words   |  9 Pages Running head: CREDIT CARD FRAUD MONEY LAUNDERING 1 White Collar Crime: Credit Card Fraud and Money Laundering Datuawn Frazier Lillian Esedebe Morrisville State College CREDIT CARD FRAUD MONEY LAUNDERING 2 Abstract In this paper we will be exploring white collar crime and specifically credit card fraud and money laundering. We will be discussing what exactly credit card fraud entails and how it takes places explaining the different methods of how criminals can stealRead MoreEssay on Technology, Privacy and Credit Card Fraud706 Words   |  3 PagesTechnology, Privacy and Credit Card Fraud The advancement of technology over the years appeared to be the greatest thing known to mankind.   With the Internet, the world is at ones finger tips and just about anything can be accessed using it.   This is not necessarily a good thing, with crimes like creidt card fraud going around.   The number of credit card fraud incidents is rapidly increasing as the years progress.   Anybody with a credit card could possibly be a victim of this crime and it shouldRead MoreEssay on Credit Card Fraud4202 Words   |  17 Pages- PDF  (90 K) Credit card fraud: awareness and prevention Katherine J. Barker,  Jackie DAmato,  Paul Sheridon.  Journal of Financial Crime.  London:  2008.  Vol. 15, Iss. 4;  pg. 398 Abstract (Summary) To make readers aware of the pervasiveness of credit card fraud and how it affects credit card companies, merchants and consumers. A range of recent publications in journals and information from internet web sites provide corroboration and details of how fraudsters are using credit cards to steal billionsRead MoreWorld Wide Credit Card Fraud1353 Words   |  6 Pages Credit card fraud transpires daily and in a variety of ways. Often times the consumer that has been a victim of credit card fraud is unaware until they notice the fraudulent charges for purchases they never made. Thieves obtain credit card information in a number of way, data breaches, compromised card information, a dishonest employee at a restaurant or retails store, by a fraudulent website, by giving out credit card information to someone over phone with malice intent. According to StatisticRead MoreCredit Card Fraud Should Be A Federal Offense1120 Words   |  5 Pages Abstract Credit card fraud is a federal offense and can get an offender up to 20 years in prison depending on the severity of the situation. Should it be a federal offense? Credit card fraud is becoming more and more relevant especially in the United States , matter of fact it increased by 16% in 2016 alone. This is a serious problem in today s society. The hypothesis that s being examined in this paper is that credit card fraud should be a federal offense. This has become a relevantRead MoreDigital Credit And Debit Card Fraud Essay741 Words   |  3 PagesThe Problem: Worldwide credit and debit card fraud resulted in losses amounting to $16.31 billion during the year 2014. The United States has been disproportionately affected by this fraud, due to their lack of adoption of the EMV Chip security measure. According to the 2012 Nilson Report, American card issuers lost $3.4 billion and merchants lost another $1.9 billion. America makes credit card fraud easy for fraudsters, by still relying on cards with magnetic strips which are less secureRead MoreCredit Card Fraud, An Integral Part Of The World s Economy1259 Words   |  6 Pagesmoney. Credit and Debit cards have become an integral part of the world’s economy. Due to this extensive usage of cards, we have become a â€Å"cashless society†. We make use of credit cards to make online payments, to buy items at retailers and grocery stores; almost anywhere we go and purchase, we extensively make use of credit cards. This over dependency and usage of credit cards has given rise t o new form of crime called the Credit Card fraud. Credit card fraud is the use of one person’s credit cardRead MoreEvolution Of Credit Card Fraud Within The Growing E Commerce Industry1716 Words   |  7 PagesA565_section_14447_Tina Pang _Credit Card Fraud_ Final Paper_10/11/2014 I examine the evolution of credit card fraud within the growing e-commerce industry. Online Shopping: Risk of Paying More than You Receive I examine the evolution of credit card fraud in regards of the technology or methodology fraudsters used specifically within the e-commerce industry, and discuss various security concerns companies have for establishing online shopping sites. The appearance of credit cards and the growing e-commerce

Forms of Abuse Experienced by Adults - 3468 Words

P1- describe forms of abuse which may be experienced by adults P2- describe factors that abuse may be happening to adults M1- Assess the likely immediate effects of two different forms of abuse on the health and wellbeing of adults D1- Evaluate the potential long-term effects of these two types of abuse on the health and wellbeing of adults Abuse is any form of mistreatment by any other person or even persons that will violate an individual s basic human and civil rights. The abuse can vary, from treating someone with disrespect in a way that significantly affects the person s quality of life, to causing actual physical or mental suffering, either over a short term or a long term of time, clearly the longer it goes on the worse the†¦show more content†¦Immediate effects of sexual abuse The immediate effects of sexual abuse can be anything from STD, bruising in the genital area, missing pieces of clothing, bruising marks on the adults body where they have been grabbed. These immediate effects can work because it shows signs of sexual abuse and can help prove they have been abused and its not just in the vulnerable adults head. Immediate effects on sexual abuse may not work though because its very hard to figure out that someone has been sexually abused if their is no immediate effects and a case scenario has to be investigated further it could take longer to figure out if sexual abuse has been happening or its all the vulnerable adults head or the adult could have dementia and dreaming it. Long term effects of sexual abuse on adults The most common immediate effect is Post Traumatic Stress Disorder or â€Å"PTSD.† Other negative immediate effects may include depression, anxiety, promiscuity, general behavioural problems, poor self-esteem, and disruptive behaviour disorders. Potential long term effects of sexual abuse include depression, anxiety, Post Traumatic Stress Disorder (PTSD), sexualized dysfunction, and substance abuse, prostitution, low self-esteem, STD’s and flashbacks. These can cause vulnerable adults to even kill themselves and not want to live with what has happened toShow MoreRelatedChildhood Victimization And Adult Criminals Essay1474 Words   |  6 Pagesthroughout the decades regarding childhood victimization and how it relates to adult criminality. This report will summarize a few of these studies and compare their results in order to attempt to find a correlation between childhood abuse, neglect, or sexual abuse and adult criminals. A common assumption amongst those in the field of criminal justice is that most adult criminals were victims of physical abuse, sexual abuse, and/or neglect in their childhood. A study by Steele in 1975 found that,Read MoreChild Abuse Is A Common And Sad Fate For Many Children Essay1558 Words   |  7 PagesChild abuse is a common and sad fate for many children today, statistics show that more than four children die every day because of child abuse. Abused children not only experience the effects of the abuse in childhood, but in adulthood as well. There are ways to detect child abuse and how you can help these children. ChildHelp.org stated that â€Å"Every year more than 3 million reports of child abuse are made in the United States.† Child abuse is a terrible epidemic that needs to be put to an endRead MoreChild Maltreatment And Its Effects On Children1373 Words   |  6 PagesHowever, children’s exposure to environmental stressors, depending on the exposure frequency and intensity, may impair the normal development of memory in children. This paper will evaluate the role of child maltreatment (physical, emotional, and sexual abuse, and neglect) in the changes of memory function. We will first explore maltreatment’s effect on the physiological changes that occur in the primary brain structures that are involved in the development and functions of memory. Next, we will examineRead MoreChild Sexual Abuse And Children1301 Words   |  6 PagesChild sexual abuse effects tens of thousands of children, and young teens every year. With the rate of this issues, parents and other ad ults are not prepared nor willing to deal with problems of their children or family members been sexual abused. Child sexual abuse can take many forms, but it’s always a violation of a young person’s rights, and it increases the risk of many adverse physical and mental health conditions. Furthermore, child sexual abuse is defined as direct genital contact and indirectRead MoreCaring For Loved Ones : Elder Abuse Essay1576 Words   |  7 PagesCARING FOR LOVED ONES: ELDER ABUSE IN THE U.S. Although there are agencies and policies to protect the elderly, elder abuse is prevalent in the United States due to ambiguity, underreporting, and underfunding. In 1994, the National Long Term Care Survey found that over 7 million family members provided 120 hours of care to elders. It is extremely demanding and hard to care for the elderly, which causes stress that can then lead to neglect and/or abuse. In some cases, it is a learned behavior resultingRead MoreDentists Can Have A Huge Impact On Their Community And1263 Words   |  6 Pagessigns of abuse. Intentionally inflicted trauma affects all age groups, nationalities and ethnicities. It spans from child abuse, partner violence and abuse/neglect of the elderly. As dentists it is very important to know the signs and symptoms of intentionally inflicted trauma. Domestic violence not only affects the children but the partner in a relationship as well. It is estimated that thirty to sixty percent of all domestic violence effects both children and adults. Victims of severe forms of partnerRead MoreThe First Major Investigation Of Elder Abuse Incidence Study770 Words   |  4 Pagesfirst major investigation of elder abuse in the U.S. was in 1996. This study was called The National Elder Abuse Incidence Study. This study found 449,924 people over the age of sixty had been abused. There were five different forms of neglect that had been explored, emotional, physical, sexual, potential neglect, and financial abuse. These numbers are not accurate, because a lot of these incidents are not reported. Data showed that approximately 1,000,000 adults living the U.S had been abused. Read MoreChild Abuse Is A Global Problem1195 Words   |  5 Pages or hopeless because of abuse. Child abuse is a global problem in today’s society, and not many ma ke it preventable in order to protect the victim. The ad exemplifies how an individual’s point of view can influence how they perceive child abuse by using a reflective board which changes based on the physical angle at which an individual views the sign. 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We as a society are constantly bombarded with reports of extreme sexual abuse cases of children and even infants. When we read or see a report of sexual abuse in the news the first thing that comes to mind is, what sick individual would think to do that to such an innocent child. More often than not the culprit ends up being an individual that fits the profile of

International Business Environment and Competition

Question: Discuss about the International Business Environment and Competition. Answer: Introduction In the present business scenario, the competition among the business organizations has increased substantially. The companies are using different strategies to increase their competitiveness and capture the maximum market share. However, the competition among the businesses has reached a very level and matured the market. There is little scope for growth in the local markets and hence, the companies are using international expansion strategies. Along with it, the phenomenon of globalization has also encouraged the companies to seek the foreign and unexploited markets to increase their profitability. With the globalization, the companies are moving from the local markets to a more integrated market place, where the supplies are attained from a different country, manufactured in a different place and sold in a different market (Kaynak, 2014). Most of the business organizations have identified that the international expansion has numerous benefits for the growth of the companies. It is the strategy, in which the companies take their business outside the borders in which they were founded. Today, most of the large organizations have expanded their operations across boundaries to diversify their risks, target unexploited and fresh markets an increase their productivity (Wheeler, McDonald and Greave, 2003). In this regard, in this report, an international market expansion strategy for Woolworths has been proposed by selecting an appropriate target market. The report begins with providing a brief introduction to the company and its operations. Then after, an appropriate target market has been selected for the organization by evaluating the market conditions and external factors. In the report, the international market expansion strategy and the choice of entry mode in the international market has been discussed. Introduction to the Organization and Product Woolworths is a major retail organization in Australia and New Zealand. It has a chain of supermarkets and retail stores in Australia and New Zealand. It has a strong market share in the Australian supermarket and grocery market. It specializes in grocery and the household items; and along with it, Woolworths also sell magazines, stationary items and packaged foods. It has more than thousand stores in Australia an also operate as Safeway stores in several rural locations in Australia. Woolworths Limited was founded in 1924 in Australia and since then has created a strong market share in the country. It has duopoly with the Coles supermarket stores and has established strong relationship with the suppliers and has strong customer loyalty and presence all across Australia (Woolworths, 2017). However, the presence of the Woolworths Supermarkets outside Australia is very limited with only stores in New Zealand outside Australia. In 2006, Woolworths ventured in the Indian markets with Dick Smith Electronics Stores which were later bought by Tata Sons Infiniti in 2012 (PTI, 2012). In Australia, Woolworths Limited covers majority of market share in the retail business. However, in the recent years, the emergence of several small retail companies and foreign discount retail organizations such as Aldi has reduced the market share of the company (Crane, 2016). These discount retailers have obtained the customers of the company by offering discount, low process and good services. AS a result, the market share of the Woolworths has reduced substantially. Therefore, international market expansion seems a lucrative opportunity for the organization. Selection of the Target Market In the international expansion strategy, the selection of the target market is the foremost step. The selection of the target market is based upon several factors and criterion. Before entering into the foreign market, a business organization should evaluate the viability of the venture and the overall return. The basic criterion for the selection of the target market is the competition level, the purchasing capability of the customers and the relevance of the product and services offered to the target customers (Ferrell and Pride, 2008). In this essence, the Woolworths should select the retail market with high household income and political and economic stability. India demonstrates high potential for Woolworths. It is due to the rise in the young population, high standard of living and rise in disposable income of the population (Halligan, 2014). China is also a strong contender for the retail expansion of the organization; however, strict legislations and rule in the country makes it difficult for the organization to enter into the market (Gruver, 2014). Moreover, as discussed in the report, Woolworths has once ventured into the Indian markets; therefore, it has significant market and expansion knowledge of the country. Accordingly, the company can utilize this market knowledge to reenter in the Indian market. In India, there is growing trend of supermarkets and shopping malls and several multinational companies have entered the Indian markets. It is reported that the Indian retail market is expected to grow by 3.6 trillion dollar by 2020. Therefore, at present, the Indian market seems the best opportunity for the organization (Ahluwalia, 2016). Pestle Analysis of the Target Market Before entering into the foreign market, it is important for the organization to evaluate the external and internal factors which might affect the organization and thus examine the viability of the business. In this regard, the PESTLE analysis is used to examine the macro factors and the business environment for the organization. Political Factors India is one of the largest democracies of the world and follows the federal form of government. The political environment of the country includes its taxation structure, laws, and legislations for the foreign entities. The county has a well-developed taxation structure and it is politically stable (Qin, 2010). Since 1990s, the government has introduced several reforms to boost the industrial growth of the country. It includes deregulation policy, international trade regulations and simple structure for the corporate taxes. It could be examined that the political environment of the country is suitable for the venture (Rao and Kadam, 2016). Economic Factors India is a developing economy and observed an exponential economic growth in the recent years. Several reforms were made in 1990s to increase the economic growth of the country. It includes changes in the industrial licensing and liberalization for the foreign companies. India has successfully recovered from the economic recession and grown exponentially in terms of economy. It is one of the fastest growing countries of the world. Moreover, the economic growth of the country has increased the working population in the country and thus expanding the disposable income of the people (Springfield, 2014). The economic factors also include the interest rates, exchange rates and the foreign exchange rates in the country (Craig and Campbell, 2012). The economic factors assist an organization in assessing the costing of the product, examining the demand and growth in the market. The economic volatility of the market has reduced after the introduction of derivatives trading (Nuruzzaman, 2011). Moreover, in 2016, the Indian government has conducted the demonetization of the currency notes; which has increased the economic volatility of thee county. Social Factors: The social factors of any country include the population, religion, customs and the recent trends. India is one of the most populated countries in the world after China. It has a culturally diverse population and majority of the population comprise of young and working population (Henry, 2011). Therefore, they have a fast lifestyle and frequent supermarket stores to buy goods and luxury products. Technological factors: The technological factors of the country play a significant role in the success of the organization. It includes the infrastructure, communication systems and the technological equipment. The new technology can reduce cost, increase efficiency, product quality and foster innovations in the organization. It could be evaluated that India is technically advanced country and developing in terms of technical infrastructure. It is home to the largest IT organizations of the world and the business organizations can utilize the advanced technical infrastructure to increase their productivity. It has adopted 3G and 4G technology and provides advanced communication system for the users (Idfc Foundation, 2016). Legal Factors: The legal factors of the marketplace include the laws and legislations that can affect the business of the organization. The laws related to the environment protection, consumer protection, employment law and import/export law can affect the business of the organization. The legal factors impact the profit margins, product transportation and the viability of the markets (Qin, 2010). Environmental factors: The environmental factors impact the retail businesses in several ways. It has direct impact on the natural resources available for the organization as well as the environmental laws controls the operations of the businesses. In India, there are several environmental laws that control the operations of the company and exploitation of the natural resources. Moreover, the environmental awareness of the customers also impact on the business of the organizations (HG, 2017). General Strategy for the International Market There are several strategies for the international market expansion of a business organization. These strategies are, namely, global standardization, localization, transnational and international strategy. It could be examined that the international is the best strategy for the market expansion of the organization. It refers to a business operating in different countries with different degrees of coordination in business strategy and operations. It coordinates the activities of different subsidiaries of the organization and the business activities of different organizations are regulated by the central office. It aims towards achieving the optimization of cost and the resources in an organization. In this strategy, an organization produces the goods in the domestic market and sells them in the international market with negligible minimal customization according to the local market demands. The international strategy is beneficial for an organization when the company has low pressures for the cost and the local responsiveness. It is beneficial for Woolworths as it is a retail organization and works with fewer profit margins (Hill and Jones, 2011). It can work with this strategy as it will allow the local subsidiarity of the organization to work independently and with the coordination of the central department. In contrast to it, other strategies for instance, global standardization focuses on reducing the operational cost to the organization be reducing the economy of sale. It is done by exploiting the cost fluctuations in different economies. It can be evaluated that the since Woolworths is a retail organization, the best strategy to enter in the international markets is international strategy. This strategy is used in the international expansion when there is a strong pressure for cost reduction; however, expectations for the local responsiveness are minimal. It is basically adopted to reduce the overall cost to the organization. In the customization strategy, the company ventures into a foreign market by adapting its products to the local preference. It is the best strategy for the product companies to establish into the fo reign market. It can be observed that Woolworths is a retail organization and it does not require adapting the product to the local taste of the customers. It can adapt the local strategy of Australia to expand in the Indian market. It involves procuring products from the local farmers and selling them to the customers. It can also introduce the loyalty awards and similar strategies to attain the market share (Peng, 2008). Choice of Entry Mode After the selection of the target market and the internationalization strategy, the next step is to select the entry mode of the organization. There are several entry modes to the international markets and their viability depends on the target customers and the product or the service, the company is offering. Woolworths is a retailing organization and does not produce any product or service but procure products from farmers and local retailers and sell them. The retail industry is characterized by high competition and low profit margins. In this regard, it could be examined that the best entry mode for the organization is the strategic alliance with the local organizations. With this strategy, the company can gain deep insight to the local market trends and the market characteristics as well as hare resources and is experience with the organization. Along with it, there are several other entry modes such as exporting or franchising; however, they are not ideal for Woolworths (Mcdonal d, Burton and Dowling, 2002). Conclusion It can be concluded that Woolworths is a retail giant situated in Australia. It has a strong local market presence; however, it has limited operations in the foreign markets. In Australia, Woolworths has dominant market share along with Coles; however, the recent advent of Aldi and the foreign discount retailers have reduced its market share. The profits of the company are declining; therefore, it needs to seek new avenues to maintain its market share. Therefore, in order to increase its profitability and reduce the local market dependence, the international strategy has been proposed for market expansion. In essence, the target market if India has been selected for the internationalization. It is a promising market with high economic growth. Politically, it is stable with a well-developed taxation structure and laws. India has a strong potential due to its growing middle-class and increasing purchasing power of its customers. It has robust economy and ideal market conditions. The social factors also influence the business of an organization. The share of working youth in the population of India is high which can promote the business of retail organization. The infrastructure of the company is technically advanced and has well-developed communication system. Therefore, the company can utilize the advanced technical infrastructure for its operations. In Indian market, the entry mode of strategic alliance could be adopted. It is the best entry mode for an organization to enter into the foreign markets with little knowledge. In this strategy, the company makes strategic alliance with a local company in order to gain market knowledge and establish itself in foreign country. References Ahluwalia, H. 2016. Indias retail market expected to double to $3.6 trillion by 2020: report. [Online.] Available at: https://www.livemint.com/Industry/rodjkB7vyBRLgTu0OMqHFM/Indias-retail-market-expected-to-double-to-36-trillion-by.html [Accessed on: 13 February 2017]. Craig, T. and Campbell, D. 2012. Organisations and the Business Environment. London: Routledge. Crane, E. 2016. Aldi is now more profitable than Coles or Woolworths and is set to grab even more shoppers - if they sort out their fresh food and customer service. Daily Mail UK. [Online.] Available at: https://www.dailymail.co.uk/news/article-3616925/Aldi-profitable-Coles-Woolworths-set-grab-shoppers.html#ixzz4YY8twVTG [Accessed on: 13 February 2017]. Ferrell, O.C. and Pride, W. 2008. Marketing. Cengage Learning. Gruver, J. 2014. Why India Will Soon Outpace China. Forbes. [Online.] Available at: https://www.forbes.com/sites/jamesgruber/2014/05/04/india-will-soon-outpace-china/#c2cd7426e82c [Accessed on: 14 February 2017]. Halligan, L. 2014. 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Wheeler, C., McDonald, F. and Greave, I. 2003. Internationalization: Firm Strategies and Management. Springer. Woolworths. 2017. About us. [Online.] Available at: https://www.woolworths.com.au/ [Accessed on: 14 February 2017].