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SIX JAILED FOR CREDIT SCAM

Six men have this week been jailed and a further two given suspended sentences for their roles in a large scale credit card scam that hit retailers for an estimated £2million. The men, all from Rochdale, Greater Manchester, who targeted more than 2,000 businesses, each pleaded guilty to conspiracy and defraud and were jailed for a total of more than 16 years.

This was a full time operation for the six men who felt they had unearthed a goldmine in the scam and were showing no signs of stopping up until they were caught. The scam relied on the use of stolen credit card details acquired over the internet’s ‘black market’ in order to defraud businesses. The scammers would take the details and clone the credit cards using a counterfeiting machine before racking up huge bills on alcohol, cars and electrical appliances.

Then when unsuspecting victims of the card fraud would notice the suspicious transactions and missing money, the card owners would cancel the transaction leaving the retailer without the funds owed or goods. The retailers would only realise this weeks after the purchases and refunds had taken place.

The scam was brought to an end when the police caught two of the individuals in the act and were able to unearth a huge volume of evidence including the counterfeiting machine and the fraudulently taken goods, £600,000 worth of goods are accounted for at this stage but police believe this is only a small amount of the overall sum taken.

 If you are struggling with debt issues, whether these are business or personal debts, The Debt Advisor Ltd which incorporates The Business Debt Advisor can help.  There are a range of solutions available which include both formal and informal solutions such as Debt Management Plans (DMP)Individual Voluntary Arrangements (IVA),  Bankruptcy as well as solutions for Businesses.

There is also free debt help and advice available through a variety of debt charities. For more information, we recommend you visit www.moneyadviceservice.org.uk.

The Debt Advisor is regulated by The Financial Conduct Authority and is also a member of the DRF and we adhere to their codes and standards.

Call us today on 0800 0851 825 to speak with one of our advisors. If you’re calling from a mobile you can reach us on 0333 9999 600.

SIX JAILED FOR CREDIT SCAM

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