February 16, 2005 Update
Credit Card Fraud Alert:
We have received information from the Detroit Metro Identity Fraud Task Force and Somerset Collection Security that a group of people is making purchases with altered credit cards. The cards were apparently altered by re-encoding the magnetic strip on the backside of the cards. Most of the altered cards used for purchases were Charter One gift cards, however, any credit card or store gift card that has a magnetic strip on it can be altered.
The perpetrators are re-encoding these cards with stolen active credit card account information. When they swipe the card at a Point of Sale (POS) terminal, it will be approved by the credit bureau.
Last week alone, Somerset Mall reported over $65,000 in purchases made using these altered cards.
Crime Prevention Tips
Always safeguard you personal information.
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Shred all documents containing any personal information.
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Safeguard all credit and debit cards.
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Do not leave any credit or debit cards or checks unattended for any length of time.
Identity theft has become very popular among thieves and our best defense is to be on guard and deny them access to our information.
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