Feds Charge 18 In $200M Credit Card Fraud Scheme

What's Next In Payments®
6:45 AM EST February 6th, 2013

Federal authorities said Tuesday that 18 people have been charged in a massive credit card fraud scheme in which criminals used fake identities to steal more than $200 million, reports the Associated Press.

The group used 7,000 fake identities to obtain more than 25,000 cards, according to U.S. attorney Paul Fishman, and operated in at least 28 U.S. states. The group wired much of the money to Pakistan, India, the U.A.E., Canada, Romania, China and Japan.

“The accused availed themselves of a virtual cafeteria of sophisticated frauds and schemes, whose main menu items were greed and deceit,” said David Velazquez, assistant special agent in charge of the FBI’s Newark field office.

Read the full story here.

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