‘Massive’ Credit Card Fraud Steals $200M


Eighteen people have been charged in what federal prosecutors in New Jersey called one of the largest credit card fraud schemes ever uncovered by the U.S. Department of Justice, spanning 28 states and eight countries.

“The defendants are part of a massive international fraud enterprise involving thousands of false identities, fraudulent identification documents, doctored credit reports and more than $200 million in confirmed losses,” FBI Special Agent James Simpson said in court records.

According to court records, the scheme involved three basic steps: The defendants allegedly created thousands of fake identities, pumped up the credit histories of those fictitious people and then racked up charges on fraudulently obtained credit cards.

“Due to the massive scope of the fraud, which involved over 25,000 fraudulent credit cards, loss calculations are ongoing and final confirmed losses may grow substantially,” Simpson said.

source

Advertisements

About samologist

Who wants to know ?
This entry was posted in Uncategorized and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s