These are new trends in cybercrime that are coming up with mobile computing - mobile commerce (M-Commerce) and mobile banking (M-Banking). Credit card frauds are now becoming commonplace given the ever-increasing power and the ever-reducing prices of the mobile hand-held devices, factors that result in easy availability of these gadgets to almost anyone. Mobile credit card transactions are now very common; new technologies combine low-cost mobile phone technologies with the capabilities of a point-of-sale (POS) terminal.

Today belongs to "mobile compüting," that is, anywhere anytime computing. The developments in wireless technology have fuelled this new mode of working for white collar workers. This is true for credit card processing too; wireless credit card processing is a relatively new service that will allow a person to process credit cards electronically, virtually anywhere. Wireless credit card processing is a very desirable system, because it allows businesses to process transactions from mobile locations quickly, efficiently and professionally. It is most often used by businesses that operate mainly in a mobile environment. These businesses include mobile utility repair service businesses, locksmiths, mobile windshield repair and others. Some upscale restaurants are using wireless processing equipment for the security of their credit card paying customers. Figure below shows the basic flow of transactions involved in purchases done using credit cards. If Credit card companies, normally, do a good job of helping consumers resolve identity (ID) they) theft problems once they occur. But they of could reduce ID fraud even more if they give consumers better to monitor their accounts and limit high-risk transactions.

There is a system available from an Australian company "Alacrity" called closed-loop environment for for wireless (CLEW). Figure above shows the flow of events with CLEW which is a registered trademark of Alacrity used here only to demonstrate the flow in this environment.

As shown in Figure, the basic flow is as follows:

1. Merchant sends a transaction to bank
2. The bank transmits the request to the authorized cardholder
3. The cardholder approves or rejects (password protected)
4. The bank/merchant is notified
5. The credit card transaction is completed.