Sunday, November 9, 2008

Bulgaria cracks credit-card fraud ring - - 05 Nov 08

(SOFIA) - Bulgarian police have arrested three people suspected of involvement in credit card theft and fraud targeting western Europeans, the interior ministry said Wednesday.

Police seized a total 450 blank plastic cards, as well as software for forging and "skimming" credit cards in a joint operation with French police, Europol and the US secret service, the ministry said in a statement.

Credit-card skimming is the theft of card information during an otherwise legitimate transaction. For example, a small electronic device can be used to to swipe and store a victim's credit card number and other information contained on the card's magnetic strip.

According to French police, the men had withdrawn huge sums of money from the bank accounts of French, Italian and other European citizens, the ministry said.

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