Chennai police busted fake credit card racket

Chennai police busted another fake credit card racket by arresting four people and search is on for 11 more people in connection with the case. Earlier police had arrested seven persons for using fake credit cards and cheating banks.

Police told that gang had cheated banks to the tune of Rs 65 lakh. The gang members obtained credit cards from leading private banks by presenting fake documents.

Police recovered three cars, a lap top, two LCD Tvs and 17 credit cards from the accused.

Central Crime Branch Deputy Commissioner D Vijaya Kumari said there are many loopholes in the existed credit card processing of leading private banks, which had outsourced 75 per cent of the process to private parties.

"We had asked the banks to ensure that they provide cards only to genuine customers after perusing applicant's profile in detail," she added.

In the earlier case, in which seven persons were arrested from them police had seized over 70 credit cards, which the gang had availed from various leading private banks after presenting fake documents. They had duped the banks to the tune of Rs 65 lakh.