The 21st century appeared to be a century of possibilities and opportunities with the introduction of the advanced information technologies for both legal and illegal activities. Credit card fraud, as the fastest growing crime of the new millennium, puts a great burden on the economy affecting both customers and financial institutions. It not only costs money, but also a great amount of time to restore the harm done. Biometric verification systems and smart cards are among the alternative solutions. On the other hand, the intelligence community should update itself in terms of technology and awareness programs.