Georgia uncovers 1.5m GEL international credit card fraud scheme

The Investigation Department of the Ministry of Finance of Georgia has uncovered an international fraud scheme.

Today the Investigation Department announced 10 people had been arrested for making and using fraudulent credit cards.

As a result of a search, it was revealed accused [10 individuals] were illegally acquiring data from magnetic credit cards belonging to citizens from the US, Canada, Brazil, Mexico, Hawaii and South Korea."

Later [the accused] used special technical devices to make the fraudulent credit cards in Georgia and the personal data [from the international victims] was imprinted onto the magnetic strips of the fake cards,” announced the Investigation Department.

In total the criminal group earned 1.5 million GEL (about $625,000 USD) through the illegal activities, damaging not only the people whose personal data they used but the commercial banking system as well.

If found guilty the 10 alleged offenders will be arrested and face a prison sentence from four to nine years, depending the charges.