Vietnam police bust transnational credit card fraud gang

TN News

Email Print

Vietnamese police have wrapped up investigations into a credit card fraud gang which allegedly imported a large quantity of goods bought in the US using stolen credit card information from around the world.

 

The Ministry of Public Security police described it as the largest ring of its kind ever busted in Vietnam, online newspaper VietNamNet reported.

 

The police said they arrested Vuong Huy Long, 27, the alleged gang leader, and 11 others.  

 

The investigations started in 2010 after US police informed them about a gang which stole hundreds of thousands of dollars using stolen credit card information.

 

Long, who owns an internet shop in Ho Chi Minh City, started learning how to steal international credit card information in 2008.

 

He and his accomplices then used the information to buy from US online shopping websites like Dell.com, Newegg.com, Amazon.com, and Verizon.com.

 

Long and a Nigerian accomplice set up a website and recruited 20 employees, called "droppers," in the US.

 

The droppers' job was to provide mailing addresses for receiving the goods Long bought.

 

After receiving the goods, the droppers would send them to Vietnam by express delivery service.

 

Their cut was 10 percent of the value of the goods.

 

Long paid them using LR virtual currency.

Long also hired the Hanoi-based Online Export Import Solutions Limited Company run by Nguyen Nam Hai, 27, to receive the goods shipped from the US.

 

Hai would sell part of the goods and ship the rest to HCMC to Long.

 

For his transactions with Hai's company, Long used a fake ID card.

 

Between 2009 and 2013, Long stole around 2,000 credit card accounts, police said.

 

He made around US$210,000 from this, and spent the money on lavish trips inside and outside Vietnam.

 

More Society News