Cops warn of victims of local card fraudsters

| 26/07/2010

(CNS): Police officers from the Financial Crime Unit (FCU) are warning local residents to be on the lookout for fraudulent transactions on their bank account statements. The warning comes as part of an ongoing investigation by the financial cops involving bank cards which have been compromised. Police say fraudsters have obtained the personal card details of the legitimate cardholders and even while they remain in the owner’s possession the criminals are able to use the cards. The suspects have purchased goods with the cards worth well over seven thousand dollars police say.

“We have recently identified a number of fraudulent transactions by persons currently in police custody,” said Detective Constable Richard Clarke. “The Financial Crime Unit working with officers from the local CID was able to recover most of the fraudulently purchased property from a container prepared to be shipped abroad, a cost value of US$7654.84.”
The investigation has identified that the genuine account holders become victims of fraud when the suspects have used information from the magnetic strips to then clone another card. Police explained that criminals use various methods to get the information. One of which is known as “skimming” where the information on the magnetic strip of a credit card is copied during a transaction.
Police said card holders can reduce the risk of being victims of this type of offence by keeping an eye on their card during any transaction, and get it back as quickly as possible, to void incorrect receipts, open bills promptly and reconcile accounts monthly, observe restaurant employees when handling your card and after the purchase, check to make sure you are handed back the right card.
Cashiers around the islands’ stores are also being urged to watch out for the cloned cards by ensuring that alltransactions with cards are closely scrutinised. The full name of the person named on the card presented should be matched against the name produced on the sales receipt. If this is not consistent cashiers are asked to notify the supervisor immediately and contact the police.
Anyone who believes that their cards may have been compromised should contact the Financial Crime Unit on 949-8797.
Anyone with information about crime taking place in the Cayman Islands should contact their local police station or Crime Stoppers on 800-8477 (TIPS). All persons calling Crime Stoppers remain anonymous, and are eligible for a reward of up to $1000, should their information lead to an arrest or recovery of property/drugs.
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  1. Anonymous says:

    It need new card with smart chip and PIN number so you enter PIN every time you purchase, just like using the ATM machine. All credit card slip must have no information on the card, ie name and number of the credit card as it happen in most of other countries. Even better print the card holder photo at the back of the credit card that would stop frauds.

  2. Check it out says:

    I hope the financial crimes unit is checking back in the history of each of these card holders.  I will bet there is some common place that each of these people used their cards.  This is most likely the place where the cards where compromised.  The place where the cards was compromised should be notified so that it does not happen again.  If it continues, then the public should be made aware of the location.



    • Anonymous says:

      I have always wondered why Foster’s Cashiers enters the complete card number manually into their Cashing computer after the authorization is received on the card machine. This is dangerous because someone standing nearby can memorize or record with a camera phone the card number as it is displayed on the register. Why does Foster’s have to keep a record of the Card numbers? they have the CCard slips and the bank machine retains a db of cards transactions. also the bank will have the recorded pos sale. If it is that the supermarket needs to keep a copy of the card number with the sale, they should have a second card swipe attached to their cash til. Its only a matter of time till someone targets that store for the information. I hope I am not educating any would-be thieves by mentioning this. Lol.

  3. Anon says:

     This is because sometimes credit/debit card slips PRINT YOUR FULL CARD NUMBER ON THEM!!! I noticed this the other day and I now scribble out the number – make sure you check!