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Malaysia-based credit card fraud ring broken, 105 arrested

That's a pretty large ring

By John Leyden, 8 Jul 2016

A total of 105 credit card fraud suspects have been arrested in Asia and Europe following a complex months-long investigation across two continents.

The investigation targeted a gang led from Malaysia whose tentacles spread into 14 European countries (including the UK and Germany) and specialised in using counterfeit credit cards for purchasing of high value goods.

A total of nine arrests took place in Malaysia and 76 across Europe as part of a takedown operation against the group which involved raids against various premises – including two sites where “high quality” counterfeit credit cards were manufactured.

During house searches, 3 000 counterfeit payment cards were also seized, alongside fake passports, cameras, jewellery and substantial amounts of cash.

Cops reckon the crooks used counterfeit credit card to purchase high value goods, mainly at electronic stores and duty-free shops at airports, causing losses estimated at €5m. In Europe, the gang bought mainly jewellery and expensive watches.

The police operation, which ran from the end of 2015 to the spring of 2016, was supported by Europol's European Cybercrime Centre (EC3). Cops credit close police cooperation on a global level as well as the direct support of American Express with achieving a successful conclusion to the complex investigation. ®

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