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Credit card scam
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A man stood trial at Xihu District People’s Court this week for allegedly swindling more than 5 million yuan (US$619,872) in a credit card scam.
The man surnamed Sun from Jiangxi Province bought eight POS machines and rented them to vendors to make money, the court heard. Prosecutors said Sun started to search online for information once he learned POS machines can copy other’s credit cards.
He claimed he spent more than 2 million yuan buying credit card information online from overseas. Each piece of credit card information stored in magnetic strips cost him US$40 to US$70, the court heard.
Once getting the information, prosecutors said he copied the information into card-reading software immediately as the data would be invalid within 30 minutes. The software then transmitted the information to a card reader, which wrote the information onto empty cards Sun had prepared in advance, the court heard.
Sun was accused of swindling a combined 5.13 million yuan from the cards on the POS machineshe rented out.
All the credit card information was from Discover credit card users in the US.
The victims reported to police in China through the card issuer and policemen caught Sun in Hangzhou, the court heard.
Police found Sun deposited 1.8 million yuan in a bank account belonging to his former girlfriend. Police found that Sun and his current girlfriend surnamed Xu had a combined 3.95 million yuan in their bank accounts.
Sun borrowed Xu’s card and she didn’t even know Sun’s real name until he was caught, the court heard. They met on WeChat, a popular social networking app.
The court said it will announcea verdict later.
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