Cybercrime cops arrest suspect in credit card scam
The leader of a credit fraud ring has been arrested, said the National Police Anti-Cybercrime Group.
ACG head Gilbert Sosa said the suspect, Gerard Joseph Liwag, 29, was caught in the act of retrieving a device called “credit card skimmer” during the bust operation.
He said the Credit Card Association of the Philippines provided information on the scheme involving the skimmer enabled the syndicate to copy data in the magnetic strip of a card.
With the date encrypted on a clone card, the fraudsters could tap into the victim’s account and make any transaction.
Sosa said Liwag and his cohorts will be charged under Presidential Decree 1689 on syndicated estafa and Access Devices Act of 1998 on top of bribery.
In a statement, the association said it will continue to protect “users and merchants against fraud, and work with the PNP-ACG.
Investigation showed that Liwag’s accomplice allegedly offered P100,000 cash and a Mercedes Benz car to the arresting team to drop the case.
Liwag’s activities were monitored by the CCAP Security and Risk Committee prior to the arrest.
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