What Is Fuel Card Fraud? Everything You Need to Know

Fuel card fraud is a type of credit card fraud that involves the unauthorized use of a fuel card to purchase gasoline or other fuel products. Fuel cards are typically issued by oil companies and used by businesses to purchase fuel for their vehicles. However, anyone can sign up for a fuel card and use it to buy gas.

Fuel cards usually have a credit limit, and if the card is used to purchase more gas than what's available in the account, the cardholder may be responsible for paying the difference. Fuel card fraud can also occur when someone steals a fuel card and uses it to buy gas.

Fuel card fraud is a serious crime that can have costly consequences for both businesses and consumers. If you suspect that your fuel card has been used fraudulently, you should report it to the police and your credit card company immediately.

How to Prevent Fuel Card Fraud?

One of the best ways to prevent fuel card fraud is to keep your fuel card in a safe place and only use it when you are buying gasoline or other fuel products. If you suspect that your fuel card has been stolen, report it to the police and your credit card company immediately.

You should also monitor your fuel card statements closely and report any unauthorized charges to your credit card company right away. If you notice any suspicious activity on your fuel card, you should contact your credit card company and the oil company that issued the card to investigate.

Fuel Card Fraud Statistics

According to the Federal Trade Commission, fuel card fraud accounted for more than $200 million in losses in 2017. Fuel card fraud is a growing problem, and it's important to be aware of the potential risks.

If you suspect that you've been a victim of fuel card fraud, you should report it to the police and your credit card company immediately. You can also file a complaint with the Federal Trade Commission.