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Credit card fraud is a crime of deception. It occurs when someone pretends to be the cardholder and tricks a merchant (business, service provider, seller, etc.) into exchanging merchandise or rendering servi

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ces while maintaining the belief that the credit card account will provide payment for services. Almost always the merchant eventually learns that they will not be paid, or the payment they received will be

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

eclaimed by the card's issuing bank because they have been the victim of credit card fraud. This is why most merchants are becoming more vigilant then ever when it comes to verifying credit card numbers.

Cr

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

edit card fraud is technically classified as a crime of identity theft. However there are several ways that credit card fraud could take place --

The Stolen Card – The most obvious way your identity is stol

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

n is when your card is stolen. This makes it possible for the thief to make unauthorized charges on that card until you get a clue and cancel the charge or the credit card company notifies you to see why you

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

are going over your limit.

Although technically businesses are supposed to check the identification of the cardholder this almost never happens in these modern days. This allows identity thieves to potentia

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

lly charge up thousands of dollars in services and merchandises before you realize it. It is particularly easy to purchase things over the Internet and also at gas stations where there is nobody around to ve

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ify a card holder’s identity.

Mail Order Fraud – One type of credit card fraud involves using a stolen credit card number or an identification card with a fake generated number to order merchandise and have

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

it shipped to a temporary forwarding address. The thief then takes the merchandise ordered and sells it. When the person holding the card realizes that there is a fraudulent charge on their credit card repor

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

t they call their credit card issuer and dispute it. This results in what is called a chargeback. The merchant then loses the money from the transaction, in addition to the merchandise that they do not recov

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

r. This is not only the most common type of credit card fraud it is also the most expensive.

Stealing Replacement Cards – In this scenario a thief intercepts a card that you have ordered to replace a lost c

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

rd and uses it. This sometimes happens if you have been robbed of your card once. The thieves may know that you are expecting that second card and watching your mailbox. This is why so many banks now ask you

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

to confirm your indent to the bank using your social security number, home address, mother’s maiden names and personal questions. This type of theft has also inspired the credit card companies to make new c

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

rds non-active until you phone in to activate a newly received credit card.

First Party Fraud – Not all credit card theft is performed by thieves. Sometimes the thief is the cardholder. First party fraud or

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

“chargeback fraud” commonly occurs when a legitimate cardholder pays for a good or service as usual but then claims never to have authorized the transaction, or that the good or service was never received. A

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

fter disputing the charge the card holder only has to pay a $50.00 liability charge for an $800 he or she may have legitimately bought with her card.

Skimming – Skimming is the theft of credit card informat

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

on by a corrupt employee who may use a magnetic device to scoop information from the magnetic stripe on your card or manually copy down your numbers to sell to thieves or use in their own identity theft ring

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

The magnetic skimmer devices can lift your three or four digit security code from the black stripe on the card. However keep in mind that most criminals don’t need your PIN to make “card not present” type

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

transactions over the Internet or over the telephone.

Criminals verify the numbers that are stolen by using a process called carding. This involves making a very minimal charge, one that is not that noticea

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

le to you, on a credit card to see if it is still valid or if the PIN or password works. If it does then they will reserve a day when they will max it out and leave you or the merchant liable for the charges

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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