CFE – Financial Transactions and Fraud Schemes — Question 43

Which of the following statements is FALSE with regard to counterfeit credit and debit cards?

Answer options

• A. Counterfeit credit and debit card schemes often involve collusion with merchants or a merchant’s employees.
• B. The production of counterfeit credit and debit cards is too complicated for the use of high-speed printing facilities.
• C. Credit and debit card holograms are difficult to reproduce.
• D. Counterfeiters create phone credit and debit cards through the use of what is commonly referred to as “blank plastic”.

Correct answer: B

Explanation

Option B is correct because the production of counterfeit credit and debit cards can actually be accomplished using high-speed printing facilities, making it less complicated than suggested. The other options are true; collusion with merchants is common in these schemes, holograms are indeed hard to replicate, and blank plastic is often utilized by counterfeiters for card creation.