3 held for credit card fraud

Three persons have been arrested for their alleged involvement in credit card fraud of over Rs 1.57 crore, police said today.
Owais Yousuf Kabboo of Srinagar was arrested from Jewel chowk area here on July 22 with a procured credit card machine, SSP Jammu Atul Goel said.
A case was registered against him and on interrogation he revealed the names of his accomplices, following which Shabbir Ahmad Mir of Firozabagh was nabbed, he said.
Based on inputs by Kabboo, a police party arrested Saud Pasha in Bangalore and recovered several forged credit cards from his possession, he said.
Explaining their modus operandi, Goel said Kabboo and his accomplices used to procure credit card machines from willing shopkeepers and transport these to Bangalore where they would be swiped with forged credit cards.

The amount for which the card would be swiped would be transferred to the account of the shopkeeper concerned, from where it would be shared amongst the gang members, he said.

Four such credit card machines were seized and the associated bank accounts were also frozen, he said.
So far, fraudulent transactions of more than Rs 1.57 crore have come to light, he said.
Some more people from within and outside the state are likely to be arrested in connection with the case in the near future, he said.