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3 held for international credit card fraud

Increased vigil on lodges across the city, in view of the elections, resulted in the busting of an international credit card fraud on Monday.

Three of the six-member gang were arrested and 85 cloned credit cards of various banks along with a skimmer, laptop, jewellery and other valuables was seized from them. The gang had swiped the credit cards to the tune of Rs 1.50 lakh with the connivance of shopkeepers. The three accused are — Rajender Laxman Swamy Bagal, a travel agent and event organiser from Nasik in Maharashtra, Subramanyam Harish, a realtor from Bangalore and Yerramshetty Nagaraj, an office assistant in a private company at Chennai.

According to police, the kingpin, Balakrishnan alias Bala of Chennai (absconding), got the data of credit cards from Malayasia, Singapore, Sri Lanka and other south East Asian countries through his sources. He also acquired the 14- digit bar code on the magnetic strip of the credit card and used to transfer the stolen data into the blank credit cards.

“Balakrishna obtained plain blank cards and pasted the logos and other details of the banks by pasting and embossing on the cards and he cloned the credit cards of the foreign credit card holders. He wrote the data obtained through Net through a skimmer and use it through his followers at major cities luring them with commission of 10 per cent on swiped amount,’’ Task Force DCP V B Kamalasan Reddy said.

The accused had a few contacts in the City and were using the credit cards to withdraw money from the accounts of card holders of other countries in connivance with shopkeepers, the DCP said. ``We have identified some of the shops from where the cloned cards were used and action would be taken against them,’’ Task Force inspector Shyam Babu, who nabbed the trio, said.

Balakrishna along with two others left for Chennai to get some more credit cards and therefore escaped the police dragnet. “The scam might be running into crores and the arrest of Balakrishna would bring into light the amount of fraud committed by the gang,’’ he added.

Police said that credit card cloning or skimming is a technique where someone obtains the credit card details of a customer, copies them onto a bogus card and begins using the credit card causing losses to the rightful owner.

Often the international credit card fraudsters target foreign customers credit cards as:
1) Credit card limit is more when compared to the credit cards offered by Indian banks.
2) Detection of fraud is almost impossible.

Source: ExpressBuzz


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