Fwd: FW: Credit Card FRAUD - BEWARE !!! - MUST READ-CRIME OF FUTURE

[lap dipankar]

---------- Forwarded message ----------
From: Singh, Rajesh Ram (US - Hyderabad) <rajs...@deloitte.com>
Date: Dec 28, 2005 6:53 PM
Subject: FW: Credit Card FRAUD - BEWARE !!! - MUST READ-CRIME OF FUTURE
To:

-----Original Message-----
From: Mantena, Ravi Kumar (US - Hyderabad)
Sent: Wednesday, December 28, 2005 12:08 PM
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Subject: FW:Credit Card FRAUD - BEWARE !!! - MUST READ-CRIME OF FUTURE
Importance: High

Thanks & Regards
M. Ravi Kumar
Sr. Analyst  - CRM
B4 - RMZ Futura
Deloitte Consulting India Private Limited
Madhapur, Hyderabad, A .P
India - 500081
Mobile: 91- 98857 12421
        Worry doesn't empty Sorrows of Tomorrow, but it empties the Strength of Today



-----Original Message-----
From: Venkata Satya Naga Sudheer Kurapati ,ECS-Chennai [mailto: sudhe...@hcl.in]
Sent: Wednesday, December 28, 2005 10:58 AM
To: S, Vamseedhar (GE Consumer & Industrial, consultant); K.V.Subba Rao; su...@mahindrabt.com; Venkat (Srinivasulu T V); venkateswa...@wipro.com; Mallikarjun Rao; Mule, Mallikarjuna Reddy (Cognizant); Mantena, Ravi Kumar (US - Hyderabad); Ramakris...@in.standardchartered.com; Raghavendra_Mamidi; Kanakaji; Kesavarao, Chenna; Gnanasekhar_Majeti
Subject: FW: Credit Card FRAUD - BEWARE !!! - MUST READ-CRIME OF FUTURE
Importance: High

4 held for siphoning off plastic cash
They Would Make Duplicates Of Credit Cards Used By Customers At A Juhu
Hotel
TIMES NEWS NETWORK

Mumbai: The next time you decide to use your credit card on a shopping
trip,
think again. The Mumbai police have busted a hitech credit card fraud
which
they believe is the crime of the future.

Four gadget-savvy youngsters from Andheri, two of them software
engineers,
got together to earn a quick buck and ended up ripping off over Rs 3
lakh of
citizens' money. The foursome were arrested by the Juhu police on
Tuesday.
Interestingly, one of the boys was all set to leave for the United
States
for a job in a wellplaced computer firm.

According to the police, the mastermind of the gang is 19-year-old Leo
Paul.
A second-year engineering student at a Bandra college, Paul had read
about a
magnetic card-reading device which could store data once you swipe a
card
through it. Data from at least 12 such cards could be stored at a time.
Paul
realized that if credit cards were swiped though the machine, the
personal
data
of a customer stored on it could be accessed. He then teamed with Akash
Kamble, a 19-year-old Lokhandwala resident, and ordered the card-reader
from
USA, using the internet, since it's not available in India.

"The boys befriended a waiter at Kings International hotel at Juhu to
take
their plan ahead. Every time someone ate a meal in the hotel and paid by
credit card, the waiter would discreetly swipe it through the magnetic
card-reader, which is no more than 6-inches long and can be stored in
the
pocket,'' said investigating officer Ramesh Nangare.

Once the waiter was done, he would hand over the device to Paul who
would
download the data   from the cards on to Kamble's personal computer. The
duo
would then feed the data into blank cards, available in the grey market.
The
cards were now ready to be used in shopping malls and theatres, or to
withdraw money from an ATM.

Senior inspector Pradeep Shinde said that the boys forged information
from
more than 22 cards in this manner. The fraud came to light after
officials
from HSBC bank complained to the police. The cops quizzed customers
whose
cards had been duplicated and discovered they had all visited Hotel
Kings
International and paid by credit card. Investigators then caught the
waiter
who led
them to the four youngsters. Paul, Kamble and the two other collegians
identified as Manoj Chauhan (24) and Mahesh Valani (20), have been
remanded
to police custody.

NEW-AGE CRIME

A portable magnetic cardreader can store data from around a dozen cards
that
have been swiped through it; made in China, the device was bought on the
net
for Rs 18,000. The card-reader is connected to a computer and the entire
data is transferred there. The data is then stored in blank cards
available
in the grey market. These duplicate cards can now be used to buy a
fortune
and also withdraw money from ATMs.

The accused (left) used a card-reader (right) to transfer the data on to
a
PC for making a duplicate credit card (See attached file: image001.jpg)


.



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