Two held for credit card fraud

by news
July 8, 2017

Bengaluru: The cyber crime police on Friday arrested two employees of a firm who allegedly procured credit cards from private banks using forged documents.

They allegedly purchased expensive goods, sold them and fell off the grid, making it impossible for banks to trace them, said the police who have recovered cash, electronic items and jewellery worth Rs. 25 lakh from the two.

The police have identified the accused as Narien Jaipal alias Rahul, 37, from Thiruvananthapuram in Kerala and Abubackker alias Santhosh Pradhan, 39, from South Canara procured as many as 29 credit cards in one year from several banks and used them to the full limit.

“They forged Aadhaar and PAN cards to obtain SIM cards on fake addresses. For the first few purchases, they would pay their credit bills on time,” said a police officer. After few such transactions, they would ask the bank to enhance their credit limit from Rs. 50,000 to the maximum. They would then use the cards to the limit and then use a fresh set of forged documents to target another bank.

“They planned it so meticulously that the accused would even rent a house just to hoodwink the bank. They would vacate it soon after making an expensive purchase,” Deputy Commissioner of Police (Crime) Jinendra Kanavi said.