Colorado Credit and Debit Card Fraud

Code Sections

COLO. REV. STAT. § 18-5-901, et seq. Identity Theft and Related Offenses

COLO. REV. STAT. § 18-5-903 Criminal Possession of a Financial Device

What is Prohibited?

Criminal possession of a financial device: possession or control over any financial device that the person knows, or reasonably should know, to be lost, stolen, or delivered under mistake as to the identity or address of the account holder.

"Financial device" means any instrument or device that can be used to obtain cash, credit, property, services, or any other thing of value or to make financial payments, including but not limited to:

• A credit card, banking card, debit card, electronic fund transfer card, or guaranteed check card;
• A check;
• A negotiable order of withdrawal;
• A share draft; or
• A money order.

Identity theft:

Knowingly possessing or using the personal identifying information, financial identifying information, or financial device of another without permission or lawful authority with the intent to obtain cash, credit, property, services, or any other thing of value, to make a financial payment, or to use in applying for or completing an application for a financial device or other extension of credit;

Falsely making, completing, altering, or uttering a written instrument or financial device containing any personal identifying information or financial identifying information of another;

Penalties

Criminal possession of one financial device is a class 1 misdemeanor; two or more financial devices is a class 6 felony; and four or more financial devices, of which at least two are issued to different account holders, is a class 5 felony.

The penalties for criminal possession of a financial device range from six months to three years in prison and $5,000 to $100,000 n fines, plus restitution.

Identity theft is a class 4 felony, punishable by up to 12 years in prison and $500,000 in fines.