Credit card fraud is when someone uses your credit card or credit account to make a purchase you didn't authorize. This activity can happen in different ways. For example, if you lose your credit card or have it stolen, it can be used to make purchases or other transactions, either in person or online. And fraudsters can also steal your credit card account number, PIN and security code to make unauthorized transactions, without needing your physical credit card—unlawful transactions like these are known as card-not-present fraud.

Identity theft involves the use of illegally obtained information about you, like your name, birthday, Social Security number, credit card numbers and more, in order to use existing credit accounts or open new ones in your name. When this happens, criminals capture the spending power of your credit while you get stuck with the bill.

In New York, credit card fraud and identity theft are serious criminal offenses. Under New York Penal Law, credit card fraud can fall under several categories, such as fourth-degree grand larceny when the value of the stolen property is more than $1,000, or it can be classified as identity theft. The severity of the charge can range from a misdemeanor for smaller amounts to a felony for larger amounts or more severe breaches of financial security. Identity theft is also addressed in New York Penal Law, with varying degrees of severity based on the extent of the fraud and the financial loss incurred by the victim. The law recognizes different degrees of identity theft, from third degree (a misdemeanor) to first degree (a felony), depending on factors such as the amount of money stolen or the number of people affected. Victims of credit card fraud or identity theft in New York are encouraged to report the crime to their local police department and their credit card issuer, and they may also contact the New York State Attorney General's office for assistance. Additionally, federal laws such as the Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) provide certain protections to consumers against unauthorized credit card transactions and establish procedures for disputing fraudulent charges.