Credit card theft ring ‘cancelled’
By NELSON BENJAMIN
JOHOR BARU: Police have “cancelled” an international syndicate that intercepted credit cards sent through the post with the arrest of three members.
The syndicate had gotten hold of at least 21 credit cards, all belonging to Singaporean businessmen and students, in recent months and sold them to the highest bidder in Malaysia.
The activities were uncovered after three people, including two Singaporeans, were picked up in Penang and Johor several days ago. The suspects are in their 30s and 50s.
The cards, issued by various banks in Singapore with a combined credit limit of hundreds of thousands of ringgit, were to be delivered to Singa- pore addresses.
Sources said the cards seized were genuine and the syndicate was believed to have used moles placed at banks or post offices to provide tip offs when a credit card was sent out to customers.
In Singapore, new credit cards or replacements are sent via normal mail and are ready for use immediately unlike in Malaysia where the cards are sent via registered post and the card holder had to contact the bank for activation.
It is learnt that once a card is stolen in Singapore, it is sent to Malaysia and sold to ready buyers to be used for retail purchases.
By the time the card holder know about it, transactions had been made to the maximum credit limit, a source said.
Federal Commercial Crime Inves- tigation Department director Comm Datuk Koh Hong Sun confirmed the arrests and described it as a major blow to the syndicate’s operations.
Singapore police are also gathering information on the syndicate’s network in the island republic and Malaysia.
So what was the penalty?
Of the three suspects arrested in JB, one was sentenced to RM1000 fine, the other was released due to lack of evidence! Only the third is still under investigation….
Filed under: That's Life