Sunday, August 31, 2008

Scam Reported to Fleece Americans


BBC News reports it has unearthed a plan in which fraudsters with stolen credit-card information would clone the information onto the magnetic strips of other cards, then use them in UK supermarkets to strip money from unsuspecting Americans.

One gang said it accessed the accounts of more than 2,300 Americans in one month and planned to make fake cards to be used overseas. It claimed to have acquired the information from gangs in the United States that say they have tapped the phone lines between banks and cash machines.

Central to the plan was to use the cards at supermarket self-service checkout stands, bypassing the risk that a store employee might spot the forged cards

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