Big credit card fraud

Press, 4 March 1983, Page 2

Big credit card fraud

RA Auckland ’Auckland fraud squad detectives fear they may have one of New Zealand's biggest credit card frauds on their hands..

JThey are investigating the activities of a well organised group behind a credit card swindle involving thousands of dollars.

The investigation began on Monday and inquiries have already spread throughout the upper North Island. ■’.'About 10 people are believed to be involved in the (eheme.- The police said all were minor drug dealers or Osers. -This week, fraud squad detectives have made four dawn raids connected with the inquiry but have so far made only two arrests.

A man and a woman have appeared in the District Court at Auckland on “holding charges” but more than 100 further charges are expected to be laid soon. * .The inquiry involves credit tards, mainly bankcards, vjjiich were stolen before they reached the cardholders. "“The cards were sold for between $5OO and $750 and flsed extensively by the new “owners” in a few days immediately after their requisition.

The stolen cards were used mainly to buy a wide variety of goods up to about $BO on each transaction.

Z,The first sign of trouble in Such circumstances is when tfie credit card companies warn the real cardholder that his or her limit has been exceeded.

X Detectives have already discovered 34 cards stolen during the last three months and say that the inquiry involves thousands of offences. , .