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How Is Credit Card Fraud Different From Identity Theft?

What Is Credit Card Fraud?

What Is Identity Theft?

What Are the Differences Between Credit Card Fraud and Identity Theft?

The below table provides information on the differences between identity theft and credit card fraud.

Parameter

Credit Card Fraud

Identity Theft

Nature

Credit card fraud is related to monetary transactions.

Identity theft is related to stealing any kind of identity.

Awareness

This type of fraud can be caught right after it happens.

You may not be aware of identity theft as soon as someone does it.

Time it Takes Place

Credit card fraud primarily occurs at the time of purchasing.

Identity theft can occur at any time or place.

Area of Fraud

Credit card fraud is mostly related to technical issues.

Identity theft, on the other hand, does not only depend on technical mishaps.

Requirement to Carry Fraud

Credit card theft happens by tricking you through phone calls or asking for OTP therefore, you can get at least a slight idea about the coming disaster.

Identity theft can happen completely without any idea of the victim, and can be found after a long time after the incident.

Source of Fraud

Credit card fraud is limited to a single source, that is the tampered or stolen credit card.

The source of identity theft can be anything, like, ID proof, birth date, bank account details, social media account and many more.

Financial Lookout

Credit card fraud leads to fraudulent charges.

Identity theft can cause more serious issues than financial damage.

After learning about their differences let us dig deeper into the tips to protect your identity and credit card.

Tips to Protect Your Identity and Credit Card

FAQs About Difference Between Credit Card Fraud and Identity Theft