Karnataka: Cyber Crime Police arrest two for credit card fraud

Fake documents were submitted to various banks to get credit cards. They would use it to make small purchases, repay promptly and got credit limit increased. Then they made heavy purchasing and threw away the card and change phone Sims. Goods were sold on OLX and other online portals. The duo was nabbed through shop’s CCTV footage.

Cyber Crime Police arrested two persons for multiple cheating using credit cards obtained by submitting fake documents.  The duo cheated at least 3 banks of Rs 50 lakhs.

Neeran Jayapal (37) of Kerala and K Abubakkar (39) of Dakshina Kannada district, residing at Sahakar Nagar in the City, created fake ID cards and other documents and submitted to different banks and obtained credit cards. They also got sim cards by submitting fake documents. They would make small purchases and repay promptly to gain bank’s confidence. Later they would request for enhancing the credit limit and the banks obliged to the extent of Rs10 lakhs. .

Once the credit limit were increased, they would purchase gold, electronic instruments, car and other such things.  They would then sell the stuff on OLX and other marketing portals online. The bank notices for nonpayment would go undelivered. The duo lived a luxurious life and even travelled to Singapore using the money, reported Kannada Prabha.

Both Neeran Jayapal and Abubakkar are good at marketing and knew the in and out of banks’ credit card process. Since most of the banks outsource credit card processing, they would apply through the agencies and take the representatives to any building or PG as their residence.