Originally published January 25 2005
$2.5 million dollar credit card ring broken up in Hong Kong
by Mike Adams, the Health Ranger, NaturalNews Editor
Hong Kong police seized over 800 counterfeit credit cards in a sting operation that began last October. Estimated losses from the fraudulent cards could have amounted to $2.5 million U.S. dollars and $19.7 million Hong Kong dollars. Along with the counterfeit cards, police seized account data and equipment used to manufacture the bogus cards.
Hong Kong police smashed a counterfeit credit card syndicate in a recent operation, the police said Wednesday.
The police's operation turned overt at noon Tuesday when they forced into two flats, arrested two men and a woman, and seized of810 fake credit cards in the operation.
After intensive investigations since October last year, Hong Kong police identified a counterfeit credit card manufacturing center in a flat.
What seized inside the flat were 810 finished and semi-finishedcounterfeit credit cards, some pieces of paper marked with account data of 34 credit cards and some equipment believed to have been used for manufacturing counterfeit credit cards, including computers, embossing machine, pressing machine and encoder/decoder.
A notebook containing the indented impression of the above 34 credit cards account data and two computers were also seized at scene.
The potential loss to be incurred by the counterfeit credit cards were estimated at 19.7 million HK dollars (2.5 million US dollars).
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