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Cops net Malwani resident in Rs1.65 crore credit card fraud

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The cyber crime cell police station of city crime branch has arrested a Malwani resident for his alleged involvement in a credit card fraud worth Rs1.65 crore. The police said Zaffar Kasim Sayyed, 37, and his accomplices got a card swipe machine from a national bank using forged documents and used data of credit card users in foreign countries on it to commit the fraud.

Following a complaint by the bank, the police had earlier arrested Amir Aqeel Ansari alias Sunil alias Subhanbhai, 33, and Faiyaz Karim Shaikh alias Sanjay Ram Tiwari, 34. The police said Sayyed's name cropped up during the probe, leading to his arrest on Monday.

The police said Tiwari had opened a current account in the name of M/s Gold & Diamond with the bank's Bandra (E) branch in August 2010. Tiwari applied to the bank for an electronic data capture machine – a device that merchants use to swipe credit and debit cards – for his business transactions, and was allotted one.

"It had come to light of the bank that between October 15, 2010 and November 22, 2010, transactions worth Rs2.68 crore were done using the swipe machine and the money had been credited in Tiwari's account. The money was then transferred from Tiwari's account to other accounts," said an officer from cyber crime police station, requesting anonymity.

The nationalised bank realised it had been defrauded when other banks informed it that transactions worth Rs1.65 crore were bogus. The bank then approached the police.

"Investigations revealed that Tiwari had used stolen debit/credit card data of people in the US to make duplicate cards and use them on his swipe machine. However, the actual cardholders took up the matter with their banks when they were charged for these fake transactions. This resulted in the nationalised bank losing Rs1.65 crore," the officer said.

During investigation, police further learnt that the account of M/s Gold & DiamondTiwari had been opened using bogus documents. The cops have booked all three – Tiwari, Sayyed and Sunil – for cheating, forgery and relevant sections of the Information Technology Act.

The officer added, "We are on the lookout for one Bob Michael in the said crime. The accused persons are part of a ring that steals credit and debit card data of customers based in other countries and uses them for bogus transactions."

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