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* Five Indian nationals arrested for attempting to get Rs. 370 mn by POS fraud
Wed, Oct 3, 2018, 11:47 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 03, Colombo: Five Indian nationals have been arrested for trying to get a sum of 370 million rupees by using fraudulent credit cards.

The Criminal Investigation Department (CID) said that this is a work of an organized group using foreign cards.

The fraud has been committed using a POS terminal machine issued to a company named G.T.A. City Lanka (Pvt.) Limited which has been registered as a client agency with a well-known commercial bank in the country.

POS terminals are electronic devices that are used to process payments in retail locations, such as at the grocery store or mall. During the last week, on September 29th and 30th, 90 unauthorized transactions have been carried out, 4 of which have been successful.

Following the attempts, the fraudulent client agency has taken US$ 1110 while investigations have revealed that unsuccessful attempts have been made to obtain more than US$ 60,000.

During the investigation into the client agency, the authorities have been able to nab five Indian nationals in connection with the fraud.

In addition, the police also seized, 30 credit cards with false data, a laptop, several POS machines belonging to different commercial banks and mobile phones.

The Police Criminal Investigation Department has further stated that investigations are being conducted to obtain information through the International Police and Financial Intelligence Unit of the organization.

Special intelligence units have been set up in the Central Bank as well as in the Criminal Investigation Department to curb these organized financial frauds in recent times and many financial crimes have been solved in recent years. .

 

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