Search by Type Of Card

Search by Credit Quality

Search by Bank or Issuer

News and Advice

Current Interest Rates

Update: 05-23-2012
12.65% National Average
12.88% Low Interest
23.00% Reward
12.99% Student
12.99% Bad Credit
17.33% Business
14.49% Cash Back
14.49% Instant Approval

Follow Us On

News and Advice About Credit CardsHome » News and Advice » July 2010

Police arrest 178 in global credit card scam

By: TaoCredit Staff Published:July 12, 2010

A worldwide credit card scam has lead to the arrest of 178 people by European and US authorities. The scam is projected to cost over 20 million Euros.

Spanish police reported on Tuesday that police officials have detained 178 people in the United States and Europe. The 178 are suspects of a scam which allegedly replicated credit cards for use internationally. The value of the scam is projected to be worth 20 million Euros.

The arrests were contributed to an extensive two year investigation in fourteen different countries. The investigation was initially set off in Spain where local police have recovered 5,000 cloned cards, 120,000 stolen credit card numbers, dismantled six replication labs, and arrested 76 people.

Police raids principally took place in Germany, France, Ireland, Romania, Italy, and the United States. Suspects in Greece, Hungary, Sweden, Australia, and Finland has also been apprehended. Those arrested are also suspected of blackmail, robbery, sex trafficking , and money laundering.