The Hindu : New Delhi News : Two held for credit card fraud

Online edition of India's National Newspaper
Thursday, Jul 15, 2004

New Delhi

New Delhi

Two held for credit card fraud

By Our Staff Reporter

NEW DELHI, JULY 14. Two young men, including a former employee of Standard Chartered Bank, who allegedly siphoned off Rs. 4 lakhs from the bank by using stolen credit cards, were arrested by the Crime Branch on Tuesday.

The police received a complaint that Dalip (21), a former employee of the Standard Chartered Bank, had siphoned off Rs. 4 lakhs from the bank. Acting on a tip-off that Dalip would come to Model Town to purchase some electronic items through a stolen credit card, the police laid a trap and arrested him.

During interrogation, Dalip disclosed that he worked with Standard Chartered Bank as a customer service officer and knew the procedure to procure credit cards. He managed to get the names and addresses of some cardholders and contacted them claiming that their cards were being misused. He stole letterheads of the bank and sent letters to them saying they should surrender their cards for cancellation and renewal.

His accomplice, Jaspreet Singh (19), then approached the cardholders and collected the cards on the pretext of renewing them. Thereafter, both the accused purchased electronic and other items from South Delhi markets using those cards. At Dalip's instance, the police have also arrested Jaspreet. A stolen credit card, a motorcycle, a television set, a music system and other articles were recovered from their possession.

The police said Dalip belonged to Bihar and had graduated from Delhi University. His father is a head clerk in Bihar. Jaspreet is a high school dropout and was roped in by Dalip to collect the credit cards. His father runs an electronic goods shop in South Delhi.

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