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August 10, 2010

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Police crack down on credit card swindling

ABOUT 730 people were nabbed for alleged credit card swindling cases in the first seven months of this year, city police said yesterday.

The Shanghai Public Security Bureau said yesterday that they had solved 1,600 cases and retraced or prevented more than 20 million yuan (US$3 million) from being swindled.

The bureau's Economic Crime Investigation Department said loopholes have been found in credit card applications. They asked people to be cautious about their personal information as a suspect had been arrested for a new type of credit card scam.

In the latest case, a suspect surnamed Lu illegally bought resumes of job applicants on popular job hunting websites. Lu then used the information to make fake ID cards, which were used to apply for 100 credit cards, officers said.

Lu then contacted stores that had POS machines, even though they were not authorized to have them. He gave the stores money in exchange for cash advances on the credit cards, according to police.


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