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Toronto Police arrested 12 persons in relation to the scam of opening credit card accounts using synthetic fake identities. 680 such accounts identified. $ 4 Million dollars scammed. CTV News channel reports.
The investigation started in 2016. The credit cards obtained through synthetic identities were used to online payments, cash eithdrawls, offline transactions. Often transactions were went beyond credit limits.
Lesson for Indian banks.
Toronto Police arrested 12 persons in relation to the scam of opening credit card accounts using synthetic fake identities. 680 such accounts identified. $ 4 Million dollars scammed. CTV News channel reports.
The investigation started in 2016. The credit cards obtained through synthetic identities were used to online payments, cash eithdrawls, offline transactions. Often transactions were went beyond credit limits.
Lesson for Indian banks.
