Smart fraudsters caught by smarter agents by Zivka Deleva

The US Federal Trade Commission has done a good job! It found a way how to stop fraudsters to steal millions of dollars from consumers that use the online shopping. The investigation lasted four years. The whole procedure wasn't done with big media sensation. The first charge came in March in the state of Illinois, when one civil got a lawsuit. A staff attorney Steven Wernikoff at the FTC thinks that the manipulators have used some holes in the credit card processing system which allowed them to form around one hundred fake companies that made false credit card transactions using legal credit card processing companies. We are talking about fraudsters that worked in Bulgaria! , Cyprus, Estonia. "It was a very patient scam. The people who are behind this are very meticulous. We're going to aggressively seek to identify the ultimate masterminds behind this scheme," - Wernikoff said. On each transaction, the consumers lost at least 0.25 dollars, an amount that seems so neglectable, but if the number of the transactions thousands, than is not a fact that should be neglected. When you see the numbers with which the criminals manipulated, like 1.35 million credit cards from which they stole 9.5 million dollars, than you get a headache. The thing is that these fraudsters have used the fact that the credit cards are more and more used for cheap purchases - like juice machines or parking places. Normal human philosophy is not to be concerned about 20 cent fee, so it is understandable why a lot of people hadn't even noticed the theft. It is weird how comes financial agencies in years couldn't cope with the fraudsters.

by Zivka Deleva for Cantell TV (http://cantell.tv)

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