Ring smashed and over 900 fake credit cards seized
BY NELSON BENJAMINKUALA LUMPUR: A syndicate producing cloned credit cards for the overseas market has been smashed following the arrest of two of its members.
The police also recovered more than 900 fake credit cards bearing the names of local and foreign banks with a combined credit limit of some RM7mil.
In one of the raids, police also found devices used to store credit card information and several machines used to produce the fake cards including hologram safety stickers.
Credit card experts were said to be surprised by the superior quality of the cloned cards and financial institutions took immediate steps to freeze the accounts of hundreds of clients.
“We will inform our customers personally and issue them new cards with a new set of pin numbers,” a banking source said, adding that the machines seized were capable of producing dozens of credit cards within a short time.
He said the cards were most likely meant for the overseas market because they were not chip-based.
“The old magnetic cards are accepted overseas as the new chip-based technology is widely used only in Malaysia,” he said.
The syndicate’s activities were discovered when a police team from Sentul arrested two men in their 30s recently.
The officers and their counterparts from Ampang raided a house in Pandan Perdana at about 8pm on Saturday and found the items in one of the rooms in the three-storey house.
It was learnt that several top bank officers were called to the scene to verify the details of the account holders.
Police are in the process of establishing the extent of the syndicate’s network and the number of cards that were cloned.
They are also looking for other syndicate members as well as the mastermind.
Federal Commercial Crimes Department director Commissioner Datuk Hairuddin Mohamed confirmed the case and seizure of the fake cards but declined to elaborate.
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