Police smash credit card fraud syndicate
******************************************


	Police yesterday (April 7) broke a suspected credit card fraud syndicate and arrested 16 people.

	In January this year, the Regional Crime Unit, New Territory South (RCU NTS), received information from a local bank that some suspected fraudulent credit card applications were found.

	RCU NTS officers mounted a covert operation to investigate the case.

	The police investigation revealed that a suspected syndicate had fraudulently applied to local banks for credit credits using bogus documents and forged identity cards.

	The suspected syndicate used the credit cards to purchase luxury goods, including watches, handbags, jewellery, and electronic products, from the local market and then disposed of the goods in a second hand retail outlet.

	The operation turned overt yesterday (April 7) afternoon when a suspect, a 29-year-old man, was found disposing of the fraudulently purchased goods at an outlet in Causeway Bay.

	RCU NTS officers arrested a total of five men and 11 women, aged between 20 and 47, during the operation. The officers also seized a number of forged documents and recovered some goods purchased with the fraudulent credit cards.

	Based on the scale of the syndicate, the frequency of their credit card application and the number of fraudulent transactions, it is suspected that the syndicate had purchased goods valued around $2 million since their operation.

	The 16 people arrested for conspiracy to defraud and handling stolen goods, are still being detained for further investigation.

Police Report No.4
Issued by PPRB

End/Tuesday, April 08, 2008
NNNN