Six arrested for credit card fraud

Six arrested for credit card fraud

Acting on a complaint filed  by the HDFC Bank regarding the credit card fraud in October, police arrested Sandeep Kumar, Ajay Singh, Raj Kumar Sharma and Ashok Kumar.
The first two arrested persons are kingpin of the two gangs, they said.

“Two other members Amarpal Singh, an employee of Savvy Management Private Ltd. which conducts verification for HDFC Bank and Ram Kumar, an employee of Bluedart courier company that delivers credit card for HDFC Bank were also arrested. The duo used to work for both the gangs,” DCP (Crime and Railways) Ashok Chand said.

Giving details of the modus operandi, Chand said gangs used to cheat the banks by applying for credit card in the name of fictitious persons, forged salary slips,  PAN cards and identity cards of a Ghaziabad-based PSU.

Amarpal used to conduct verification of the applicants. Based on his verification, the bank used to issue card to the fictitious person believing them to be genuine. He used to get 50 per cent of the ill-gotten money from the first gang and 25 per cent from the other gang.
Ram Kumar, the delivery boy of Bluedart courier used to get Rs 2000 to Rs 2,500 for the delivery of each credit card.

The fraudsters used to get in touch with the merchants who used to swipe these credit cards on their EDC machines and also claim the amount from the bank.

The merchants used to get four to six per cent of the transacted amount as commission and rest 94 to 96 per cent amount was pocketed by the fraudsters.