CIB busts credit card fraud ring that reaped NT$10 mil.
The China Post news staffTAIPEI, Taiwan -- The Crime Investigation Bureau (CIB) announced yesterday that it discovered a fraud ring that allegedly reaped nearly NT$10 million by using dummy accounts of vagrants to get credit cards and to apply for loans.
January 17, 2013, 12:03 am TWN
The fraud group, suspected to be led by a man surnamed Wang, allegedly established more than four shell companies to forge pay slips and employment verification letters for the vagrants, then used personal information of homeless people to set up dummy accounts, the police said. In the preliminary investigation, five or six banks fell victims to scams, police sources said.
After tracking and collecting evidence for six months, the police reported the case to the Taipei District Prosecutors Office. The police searched more than 10 locations and arrested seven suspects. Authorities collected evidence, including business registration certificates, credit cards, credit card applications, information of the shell companies and phone bills, according to the police.
The CIB is expanding the scope of the investigation based on the evidence gatherd so far. Police are calling on victims and banks to testify against the fraudsters, the police said.