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| Sunday, 29 June 2003 |
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| News Business Features Editorial
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Banks mum over big credit card fraud by JAYAMPATHY JAYASINGHE Banks are keeping mum about the multi-million rupee credit card fraud, where several unsuspecting card holders have been billed for non- purchase of items. The fraud came to light when card holders complained to their respective banks about inflated bills. Many bank officials were tight lipped about the fraud, so as to maintain the reputation of their institutes.Police investigators have identified a bogus businessmen as the mastermind behind the fraud. The businessmen's accomplice who was produced before the Colombo Magistrate will be subjected to an identification parade on July 2. According to CID sources, the main suspect is a businessman from Kollupitiya who is evading arrest. He is also wanted in connection with a fraud committed in Dubai. He has also made several trips abroad with forged passports, CID sources said.Both suspects have made use of the Internet to make several purchases for several months. According to CID sources, tracking down such deals is a tedious task. Several reputed banks have been affected by the fraud as genuine credit card holders have been billed for non-purchases. Many unsuspecting card holders are still unaware that petty amounts have been debited to their accounts. The secret numbers recorded in the magnetic strip of genuine cards have been transferred to fake cards imported from Far Eastern countries which resemble genuine ones, CID sources said. The suspect who was arrested and remanded last week is believed to be the fiance of the late Daisy Anne Hamer killed in Dehiwala, police said. |
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