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28 October 2005
Credit card users can rest a bit more peacefully in the run-up to the festive period, after a scam estimated to be worth up to £4 million was busted yesterday.
Four hundred credit cards were seized from a house in Cardiff - and police believe they were created in order to be cloned from existing, legitimate cards.
The operation saw seven people arrested in a dawn raid which came after co-operation between South Wales Police, immigration authorities, Customs and Excise and the Hong Kong authorities. Seven people were arrested as a result.
Detective chief inspector Bob Tooby told icwales.com: "This is a massive and very timely haul of some sophisticated equipment which could easily have netted millions of pounds from the unsuspecting public, probably during the busy Christmas shopping period.
"Working on the assumption that each card has a credit limit of £10,000, their haul could have equated to a massive £4 million perhaps even more."
The news comes as a further boost to credit card holders, who were told earlier this month by the Association of Payment Clearing Services (APACS) that card fraud has fallen by almost a third since the introduction of chip and pin technology.
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