Hyderabad: Police busted a credit card fraud gang operating in Kukatpally and nabbed two persons. The arrested men are Pallala Praveen Kumar and Challagundla Chandra Shekar. Police said the duo acquired credit cards and used it on swiping machines (EDC) operated by fake merchants beyond specified limits and caused a loss of Rs 1.57 crore to banks.
Police seized a car, 14 Electronic Data Capture machines, two passbooks, three cellphones, 7 debit cards, 10 credit cards, two PAN cards and two voter IDs from them.
Based on a complaint by the manager of the Risk Intelligence and Control unit of HDFC Bank that he had noticed that two cards, issued in the name of one Raju Nayikuni, a resident of Bhagya Nagar colony of KPHB in Kukatpally, was being used beyond limits and that the party had absconded causing a loss to the bank.
During the investigation it was found the two had started FDs and applied for credit cards. After obtaining it they soon hit the limit of Rs 1.57 crore. The card issued in the name of Raju Nayikuni had a limit of Rs 9,00,000 but was used for Rs 92 lakh. Similarly, the other card, issued in the name of Koppirala Goutham, had a limit of Rs 1 lakh but was used for Rs 64 lakh. Cyber Crime Police booked them and arrested them on Wednesday.
