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.

Also by This Author
What's Hot
Shopify Launches Merchant mPOS App​
Alternative Financial Services
Western Union: Women Move Half of Global Remittances
Merchant Innovation
Shipping Startup Helps “Shyp” Back Online Purchases
Merchant Innovation
Facebook May Pit Mobile Ad Platform Against Twitter
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Fraedom Takes Travel, Expense Management Digital
B2B Payments
Tungsten Reveals Clearance to Operate Across EU
B2B Payments
Clogged Transit Costs Billions, Highlights Supply Chain Weaknesses
B2B Payments
New Study Separates the World’s Procurement Leaders from the Followers
View All Articles ››