New Delhi: Four people were arrested for using 57 fake credit cards to dupe a major bank of over Rs 40 lakh to support their lavish lifestyles, police said on Thursday. Mayank Jain, 28, Roshan Dass, 27, Kuldeep Srivastava, 23 and Ashok Ganwani,35 got the cards issued from Citibank on the basis of fake salary slips and identity cards of Air India.
According to police, fathers of Jain and Das were working in Air India and the duo used their identity cards to make fake ones for themselves. "Both worked as insurance agents and used the photograph and details of their customers to apply for credit cards and gave addresses of locked houses in the Air India colony (in south Delhi) where they resided," said a police official.
Srivastava prepared the fake documents as he knew popular editing softwares like Adobe Photoshop. Surveillance revealed that the cards were used at select locations which included the a mobile shop in east Delhi's Laxmi Nagar, owned by one of the accused - Ashok Ganwani, who would make the transactions at his shop and after keeping his commission, return the rest of the amount to the gang.
"When we interrogated him, the whole conspiracy came to light," said a police official adding that the master mind of the gang was Jain. The arrests came following the bank registering a complaint with the Economic Offences Wing of the Delhi Police Feb 27, 2013 alleging that the cards, issued between January and
05:57 AM, May 03, 2013
Fingerprint tech isn't new but it's an extra layer of protection sets this technology apart. ...
07:11 PM, Feb 22, 2013
Washington: Scientists are developing a new ultrathin lens which could lead to smart phones as thin as a credit card. The new lens is flat, distortion-free and so small that more than 1,500 would fit across the width of a human hair - capable in the future of replacing lenses in applications ranging from cell phones to cameras to fiber-optic communication systems. In a study published in journal Nano Letters,...
04:50 PM, Sep 20, 2012
New Delhi: Global credit card giant MasterCard is investigating a possible breach of cardholder information, says The Wall Street Journal. The breach was reported by Krebs On Security blog and which also said that MasterCard's rival Visa was also informing card-issuing banks about a breach involving a US-based payment processor. None of the credit card companies have indicated which payment processor was the source of the breach. WSJ quotes MasterCard...
08:58 PM, Mar 30, 2012
Reuters: Security researchers said they found a vulnerability in the Google Inc mobile payments platform which is currently available in phones sold by Sprint Nextel Corp. Mobile payment services that allow consumers to pay by waving their phone at a check-out terminal, instead of using a credit card, have long been available in Japan and some other countries but are only just emerging in the United States. Isis, a venture...
10:19 AM, Feb 11, 2012
San Francisco: Google Inc is introducing a credit card for its advertising customers, offering its clients a credit line to try and drum up business as competition in the online ad market heats up. Google is offering the card to select US clients with what it calls a competitive interest rate, an ample credit line and no annual fee. The catch: it can only be used to buy search advertising...
07:43 AM, Jul 21, 2011
London: WikiLeaks has again begun accepting credit card donations, a company affiliated with the secret-spilling site said Thursday. Andreas Fink, the chief executive of Icelandic payment processor DataCell, told The Associated Press that Visa and MasterCard were again processing payments to WikiLeaks after a seven-month hiatus. Fink claimed the move as a tacit admission of guilt from the credit card companies, but it may well have been accidental. Visa Europe...
07:28 AM, Jul 08, 2011
New York: US shoppers soon will be able to use mobile phones to pay for things at the checkout counter under a system unveiled by Google Inc and other major companies. Google, MasterCard, Citigroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francisco, Google said on Thursday. The service, which competes with plans by Visa and other top US...
12:44 PM, May 27, 2011
New York: Google Inc will take the wraps off a mobile payment system on Thursday that lets consumers pay at checkout with phones instead of cards, a source said, hoping to beat Visa and others to the punch. The Internet search and advertising leader will work with MasterCard Inc, the world's second-largest credit and debit card processing network, to launch the system, the source familiar with the matter told Reuters...
09:39 AM, May 25, 2011
New York: Credit card lenders could be facing more than $300 million of card replacement costs if customers affected by the Sony Corp data breach decide to replace their credit cards. Analysts have previously estimated that the incident could cost Sony more than $1.5 billion, but this is the first time they have put a price tag on how much major lenders will also suffer. "It's not insignificant," Sanjay Sakhrani,...
06:46 AM, Apr 29, 2011
San Jose: It's not just consumers who have to make hard choices when paying with plastic. Credit card companies choose to scrutinise some bits of information for signs of fraud while ignoring others. And those decisions are made in a fraction of a second when approving or denying a sale. Visa, which operates the world's biggest electronic payment network, is speaking publicly Thursday for the first time about new technologies...
09:24 AM, Jan 07, 2011
London: Banks were accused of a cover-up after they tried to silence a Cambridge University scientist who exposed a fatal flaw in chip and PIN card security. The UK Cards Association (UKCA), which represents the country's biggest banks, objected to research that showed how a simple 20 pounds device could be used by fraudsters to buy goods without entering a valid personal identification number at the till. Former Labour MP...
01:03 PM, Dec 29, 2010
New York: On a day the Sensex touched the 20,000 mark for the first time since January 2008, there’s some more good news. The worst economic recession in eight decades is now officially over. Stocks surged on Monday to a 4-month high on news that the great recession is officially over! The Dow jumped 145 points to close at 10,753, the Nasdaq closed 40 points higher and the S and...
11:40 AM, Sep 21, 2010
As the world battled recession, the Chinese bought more credit cards. ...
11:55 AM, Nov 12, 2009
The heist has been described as the largest data breach ever in US. ...
12:50 PM, Aug 18, 2009
From August 1 you have to register yourself with your bank's website. ...
11:48 PM, Jul 31, 2009
Identity proof needed for high-value transactions. ...
11:05 PM, Jul 27, 2009
Banks have asked merchants to do so to check fraud-related activities. ...
06:07 PM, Jul 26, 2009
RBI is keeping customer convenience in mind. ...
10:48 AM, Jul 23, 2009
If you are stuck in a cycle of increasing bills, we offer you some tips. ...
12:55 PM, May 27, 2009
