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"Council flat credit card fraudsters jailed"

By admin | April 30th, 2009 | Credit Cards

Credit card fraud is a problem that concerns many officials and consumers, and with fraud levels having increased over recent years many people have become frightened of becoming a victim of this sort of crime.

A recent arrest, however, means that there could be one less gang of fraudsters on the streets of the UK, after authorities busted a credit card fraud operation that was being run from a council flat in London.

The four fraudsters from Walworth were involved in worldwide credit card fraud, and this involved the cloning of credit cards that managed to rake in around £3.5 million within just ten days. The fraudsters ran the operation from their two bedroom council flat, and after being busted have been sentenced to eighteen years in prison between them for their fraudulent activity.

The fraudsters were aged between twenty seven and forty six years of age. Some were receiving benefits despite owning expensive items such as BMWs and Rolex watches. Three were immigrants, and according to reports will be deported once they have served out their sentences. When police raided the council flat they found high tech counterfeiting equipment, stolen passports, fake credit cards, and details of credit card numbers that were being used to clone the cards.

The presiding judge that passed down the sentence stated: “This was a large scale and sophisticated operation and in the case of Morgan Stanley it was an international operation. The cards were successfully used to obtain goods not by yourselves, but by others. But proceeds of these crimes ended up back at that flat.”

Tags: Morgan Stanley, credit card fraid

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