Victorian Jailed For Credit Card Fraud

Best Fraud Protected Card

The ANZ Balance Visa gives you total peace of mind when it comes to fraud. This card is protected by the ANZ Fraud Money Back Guarantee which means you will never be financially liable for any fraudulent transactions on your card. You are also protected by 24/7 Falconâ„¢ security which monitors for any suspicious transactions on your card. With a low ongoing rate on purchases you

• $79 annual fee
• 14.24% p.a. on purchases
• 0% p.a. for 6 months on balance transfers
• Cash Advance Rate of 21.49%
• Apply online and receive a response within 60 seconds

Click here to read the ANZ Balance Visa terms and conditions

Fake credit cards were used to defraud Australian retailers of $400,000 in credit card debt. A Malaysian man, Ching Boon Goh, 25 years of age, was involved in the production of these credit cards and he made more than $225,000 from this caper.

These cards were purchased by overseas students and had a value between $50 and $500 from Officeworks, Myer, Dick Smith Electronics and David Jones. These cards were then sold by Goh for 70% of their face value to another man.

The companies listed above lost nearly $300,000 in credit card debt between December 2008 and January of 2009. A guilty plea was entered by Goh for 4 counts of deception for obtaining property.

Goh was in Australia working as a fruit picker for three years in northern Victoria when he lost a large amount of money, $5000, while gambling at the Crown Casino.

Gold told the court that the scheme made him only $10,000, but this was not accepted by the judge, who said that this was a sophisticated crime.

Goal received a sentence of two years and nine months for this escapade

He will be eligible for parole after serving 18 months and has been in custody for 390 days. After his release he will be deported back to Malaysia where he has a baby and a partner.

This is an extreme example of a credit card debt scam, and the damage that can occur because of it.

Source: News.smh.com.au

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0