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There have been many cases of crackers obtaining huge quantities of credit card information pany databases. It is not unusual for employees panies that deal with millions of customers to sell credit card information to criminals[citation needed].

Despite efforts to improve security for remote purchases using credit cards, systems with security holes are usually the result of poor implementations of card acquisition by merchants. For example, a website that uses SSL to encrypt card numbers from a client may simply email the number from the webserver to someone who manually processes the card details at a card terminal.

Naturally, anywhere card details e human-readable before being processed at the acquiring bank is a security risk. However, many banks offer systems such as merce, where encrypted card details captured on a merchants webserver can be sent directly to the payment processor.

The Federal Bureau of Investigation is the agency responsible for prosecuting criminals who engage in credit card fraud in the United States, but they do not have the resources to pursue all criminals. In general, they only prosecute in cases exceeding US$5,000 in value.

Three improvements to card security have been introduced to the mon credit card networks but none has proven to help reduce credit card fraud so far. First, the on-line verification system used by merchants is being enhanced to require a 4 digit Personal Identification Number PIN known only to the card holder.

Second, the cards themselves are being replaced with similar-looking tamper-resistant smart cards which are intended to make forgery more difficult. The majority of smartcard IC card based credit ply with the EMV Europay MasterCard Visa standard.

Third, an additional 3 or 4 digit code is now present on the back of most cards, for use in card not present transactions. See CVV2 for more information.

In recent times, credit card portfolios have been very profitable for banks, largely due to the booming economy of the late nineties. However, in the case of credit cards, such high returns go hand in hand with risk, since the business is essentially one of making unsecured uncollateralized loans, and thus dependent on borrowers not to default in large numbers.

Credit card issuers banks have several types of costs: Banks generally borrow the money that they then lend to their customers. As they receive very low-interest loans from other firms, they may borrow as much as their customers require, while lending their capital to other borrowers at higher rates.

If the card issuer charges 15% on money lent to users, and it costs 5% to borrow the money to lend, and the balance sits with the cardholder for a year, the issuer earns 10% on the loan. This 5% difference is the interest expense and the 10% is the net interest margin.

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