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| A Blow Struck Against Credit Card Fraud | |
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Students with credit cards can now feel safer using their plastic now that a four man gang of credit card hackers have been banged to rights at Southwark Crown Court Theogones De Montford, a software engineering student, was yesterday sentenced to four and a half years in prison. Three of his accomplices were also jailed for three years each. The gang hid small circuit board devices in credit card readers which allowed them to pick up their victims’ credit card details through Bluetooth to a laptop. They then sold on the credit card details to other credit card fraudsters in the UK and overseas. Although a minimum figure of £725,000 was put on the fraud by the court, it was estimated that De Montford’s gang could have actually cost the banks as much as £35 million. De Montford, described by the Adam Budworth of the prosecution as ‘perhaps one of the most prolific chip and pin fraudsters in the UK’, obtained the credit card details of over 35,000 people at Shell and Texaco petrol stations around England – targeting Bristol, Cambridgeshire, Kent, Leicestershire and Sussex. Budworth added that since the time of De Montford’s arrest there had been ‘a significant reduction in the number of chip-and-pin frauds in the UK.’ So, with these four credit card fraudsters now safely off the nation’s forecourts, it could be time for you to consider some of the real benefits of using a student credit card (carefully, of course). Obviously, it pays to be vigilant at all times whenever you pay by plastic or use ATMs, but there are some great credit card deals for students out there at the moment. Many of them offer 0% APR on purchases and balance transfers. Compare all of the latest UK student credit cards on the E4S student deals section now. |
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