Australian Fraudulent Credit Card Syndicate Busted

A group of five men and a woman from Sydney and Melbourne have been arrested without bail after a series of police raids. Over a million dollars had been spent using more than a thousand manufactured credit cards.

The syndicate would use selected ‘shoppers’ to purchase a variety of goods ranging from electronics, phones, cigarettes and alcohol. In return, they would receive a percentage of the purchase value as compensation.

One member of the credit card fraud syndicate is facing up to twenty charges including dishonest conduct with personal financial information, fraud conspiracy and willfully dealing in crime.

During the raids police found software designed to create fraudulent credit cards as well as Medicare cards.

The members of the syndicate face will face court and are held without bail until September 9th 2009.

Credit Card Offer Comparison

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
Bankwest Breeze MasterCard	A low interest rate on everyday purchases with a low balance transfer offer	0% for 4 months (reverts to 11.99% )	0% for 6 months	$59	21.99%
Citibank Clear Platinum Card	A low interest rate offer on balance transfers and purchases	0% for 6 months (reverts to 11.99% )	0% for 6 months	$49 annual fee for the first year ($99 thereafter)	21.74%
St.George Vertigo	An introductory offer on balance transfer and a low annual fee	13.24%	2.99% for 6 months	$0 annual fee for the first year ($55 thereafter)	21.49%
Virgin Australia Velocity Flyer Card	Earn 1 velocity point per $1 spent, plus an introductory offer on balance transfers	20.99%	2.9% for 6 months	$129	20.99%
Westpac 55 Day Credit Card	No annul fee for the first year with a low rate on balance transfers and purchases	0% for 5 months (reverts to 19.59% )	0.99% for 9 months with 1% handling fee	$0 annual fee for the first year ($30 thereafter)	21.49%