Hyderabad Police busted Gang making Fake Credit Cards

Hyderabad, Aug 18: Police have busted a gang making fake identity and credit cards in Hyderabad and arrested 14 people who defrauded various banks to the tune of Rs.65 lakh.

Cyberabad police commissioner C.V. Anand told reporters on Tuesday that the police seized 167 credit cards of various banks, 196 PAN cards and 199 voter ID cards from the gang.

As many as 57 mobile phones, 155 SIM cards, 37 land phones and other equipment used to make fake cards were also seized.

Jagan Mohan Reddy, a native of Warangal district settled in Hyderabad, was the main organizer of the gang. The arrested include employees of few private banks, a courier company and a telecom service provider.

The gang was make fake PAN cards, voter ID cards, income tax returns forms and other documents to get credit cards to defraud banks.

The kingpin had colluded with sales executives of bank and the field verification officers of private agencies to get the verification approved for credit cards without visiting the addresses mentioned. He was paying Rs.3,000 to Rs.5,000 for approval of each application. The delivery boys of the courier companies were handing over the cards to the gang.

The gang had obtained credit cards of HDFC Bank, State Bank of India, American Express Bank, and IndusInd Bank.

The main accused had swiped 75 credit cards of HDFC to draw Rs.40 lakh from various places. He had defrauded SBI to the tune of Rs.23 lakh by swiping the cards.  (IANS)