Bangalore credit card racket bust- 114 credit cards recovered
Bangalore, June 23, 2007
Police arrested three persons-Nagaraja, a film financier; Srikanthpal,
graduate in electronics engineering; and Saiprasad, a B.Com degree
holder who have cheated several electronics dealers using the
stolen NRI credit cards.
Police re coved:
- 114 fake credit cards of 35 banks, including Bank of America,
ICICI Bank, Citi Bank and the State Bank of Bartle
- electronic gadgets used by three accused.
NRIs, (Non-resident Indians) also involved in this scam. They
stole data from good credit cards and use on fake credit cards.The
police said, the man who supplied the credit card data to the
arrested persons is probably in the United States.
DCP, (Deputy Commissioner of Police), Mr. K.V. Sharathchandra
said, "During interrogation, the accused reportedly said
that their accomplices in the U.S. had sent them the data-encoded
white plastic cards. Using the state-of-the-art magnetic card
reader and writer equipment, the accused here transferred the
data from white cards to discarded credit cards. The latter was
either procured mainly from the U.S. though some of them were
of local origin also. Before transferring the information, they
erased the magnetic strip data of the discarded cards."
It is still under investigation that some NRIs may be arrested
soon because they had given their credit cards to the accused
and falsely informed the bank officials abroad that they had lost
the cards. On the other hand the accused had made purchases here
using the genuine cards before the banks deactivated the cards.