Mon, 29 September
27.1 C
Yerevan
USD: 382.75 RUB: 4.63 EUR: 448.54 GEL: 141.34 GBP: 513.96

Credit card fraudsters stole more than US $200 million

YEREVAN, February 6. /ARKA/.Eighteen people have been charged in what may be one of the largest US credit card fraud rings, a sprawling international scam that duped credit rating agencies and used thousands of fake identities to steal at least $200 million, US federal authorities said. The elaborate scheme involved improving fake cardholders’ credit scores, allowing the scammers to borrow more money that they never repaid, investigators said, The New Zealand Herald reported. “The accused availed themselves of a virtual cafeteria of sophisticated frauds and schemes, whose main menu items were greed and deceit,” said David Velazquez, assistant special agent in charge of the FBI’s Newark field office. The US attorney in Newark, Paul Fishman, described an intricate Jersey City-based con that began in 2007, operated in at least 28 states and wired money to Pakistan, India, the United Arab Emirates, Canada, Romania, China and Japan. The group used at least 7,000 fake identities to obtain more than 25,000 credit cards, Fishman said. Investigators documented $200 million in losses, but the figure could rise, he said.—0-

spot_img

POPULAR

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img