Starting October 1, 2015, U.S. banks are required to issue EMV cards to credit card and debit card users. EMV refers to the types of cards that use microchips instead of magnetic strips, in an effort to prevent credit card fraud in the U.S. and worldwide.
Banks have been required to adopt the EMV technology following the widespread credit card fraud affecting big retailers such as Target, Neiman Marcus, and Home Depot.
EMV is a collaboration among card giants Europay, Mastercard, and Visa, and is reportedly the most secure technology currently available. It blocks information of a cardholder’s account when hacked, preventing it from being copied into counterfeit cards.
The EMV technology may not only provide protection for cardholders but also a strong defense for anyone charged with credit card fraud involving EMV cards.
Credit Card Fraud Statistics
In 2012, a study by the Federal Reserve showed that there were an estimated 13.5 million fraudulent transactions in the United States. The Federal Reserve also noted that fraud was prevalent among signature and prepaid transactions.
Overzealous Crackdown of Credit Card Fraud
Based on numerous news reports in various states, including here in Washington DC, it appears that local authorities have made several arrests of persons suspected of credit card fraud. While the intention behind some of the arrests are laudable, the individual circumstances surrounding the search and seizure of alleged fraud paraphernalia may provide strong credit card fraud defenses for the accused.
Importance of a Criminal Defense Attorney
If you or a family member is arrested for alleged credit card fraud, it’s important to talk to your criminal defense attorney first before making any statements to the arresting officer.
Your attorney can examine the charges against you, determine whether the allegations are consistent with the offenses or crimes you are charged with, and weigh the evidence that prosecution may have against you. If items were seized during a search that you objected to, and without a warrant, your lawyer can file the appropriate motions to exclude those items in evidence.
Credit card fraud is a complicated offense to which you should not plead guilty without first taking advice from your attorney. You may be entitled to a number credit card fraud defenses that only an experienced legal mind can determine.
In Washington, D.C. and Maryland, the lawyers of Lotze Mosley LLP have more than 25 years of combined criminal law experience and have successfully raised credit card fraud defenses for clients.
We invite you to call our offices today at (202) 393-0535 to speak to an attorney about your situation.