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Credit Card Cloning Racket Busted

The fraudsters would lure shop-owners having credit card swiping machines, by offering handsome commissions.
Hyderabad | 7th June 2010
Task Force sleuths on Monday busted a credit card cloning racket. The gang was operating from a hotel near Lakdikapul .

The gang would collect credit card data of victims through a network of agents who had good contacts, and would then transfer the stolen data on to the magnetic strip of another card using skimming tools.

The fraudsters would lure shop-owners having credit card swiping machines, by offering handsome commissions. They targeted cards which had higher credit limits.

Credit card cloning or 'skimming,' as it is popularly known, is a technique by which genuine credit card details are copied onto a fake card.

The police seized about 350 credit cards of various banks from the fraudsters, besides cash and gold.

Courtesy: Media Today
filed in:  Hyderabad Crime
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