Compliance Definition: “Credit Card Bust Out”
A means of identity theft in which the criminal makes repeated use of a stolen credit card to make down payments on vehicles while delivering frequent checks written on non-existent checking accounts to the credit card company to keep the credit card line open to make more down payments. The criminal uses the “float time” of the check clearance process to commit additional identity theft using the stolen credit card.
Subscribe to our Blog
Sign up today to receive updates on the latest news.