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Wednesday, January 19, 2005 (Philippines)
| CAUGHT. Filipino counterparts of a suspected international syndicate that makes fake credit cards. High-tech equipment for the making of bogus credit cards were confiscated as well as cash and the cards obviously.(SUN.STAR FOTO/ALLAN CUIZON) |
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POLICE busted a group they described as an international credit card fraud syndicate and seized high-tech equipment for producing fake cards inside an uptown hotel in Cebu City yesterday.
The police seized 98 credit cards, many of them ready for use, as well as P280,000 cash, believed withdrawn from the accounts of unsuspecting cardholders.
Investigators have yet to find out how the group managed to get valid card numbers and crack security features, such as personal identification codes, which are required for cash advances drawn from credit cards.
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