Credit Card Ring Busted;105 Suspects Arrested
Posted by: Timothy Weaver on 07/11/2016 10:18 AM
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A police operation that included officers from Europol's European Cybercrime Centre (EC3) as well as support from American Express is responsible for the arrest of a total of 105 credit card fraud suspects.
The arrests came mostly from Malaysia and 76 across Europe. But the gang had operations in 14 European countries (including the UK and Germany). Two sites that were raided were the centers where fraudulent credit cards were manufactured.
During house searches, 3 000 counterfeit payment cards were also seized, alongside fake passports, cameras, jewelry and substantial amounts of cash.
The gang purchased mainly high value items such as goods mainly from electronic stores and duty-free shops at airports, while the European crooks mostly dealt in jewelry and expensive watches.
Total losses were estimated at $5 million.
Source: The Register
The arrests came mostly from Malaysia and 76 across Europe. But the gang had operations in 14 European countries (including the UK and Germany). Two sites that were raided were the centers where fraudulent credit cards were manufactured.During house searches, 3 000 counterfeit payment cards were also seized, alongside fake passports, cameras, jewelry and substantial amounts of cash.
The gang purchased mainly high value items such as goods mainly from electronic stores and duty-free shops at airports, while the European crooks mostly dealt in jewelry and expensive watches.
Total losses were estimated at $5 million.
Source: The Register
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