Details of card cloning operation emerge in court
A credit card cloning gang has appeared in court in London to answer charges of producing counterfeit payment cards.
Details of card cloning operation emerge in court”
The Evening Standard reports the five accused, who all hail from Walworth, made £3.5 million from the illegal operation in just over a week between September 28th and October 8th last year.
The gang has already pleaded guilty to charges, which were brought upon them when police discovered fake cards and counterfeiting equipment in their flat.
Southwark crown court heard yesterday (April 6th) that the operation began following Barclaycard's takeover of Morgan Stanley credit cards last year.
The accused manufactured the cards using computer software found in their property before purchasing £645,000 of valuables in the UK alone.
The trial continues.
In related news, the government announced last month that it is setting up a three-year National Fraud Strategy to try and curb crimes of this nature.
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