Rising Credit Card Fraud in Spain
Anecdotal evidence suggests that parts of Spain are becoming hot spots for all manor of credit card fraud. This is further supported by news of 3,000 blocked credit cards by Bancaja.
The call to action took place after a wide scale fraud operation.
According to reports:
“Numerous cases of magnetic bands being copied and cards cloned were reported in Valencia city. It is not known how many people are directly affected nor the amount of money that has been fraudulently withdrawn or spent, but prompt action was taken to stem the flow.
Late last Thursday night the bank detected a number of transactions in various municipalities in the province of Madrid – notably Móstoles and Leganés – with cards that had been used that day in Valencia.”
Staff at Bancaja quickly twigged that cloning was the root cause. It is believed that
“the magnet strip had been copied by inserting a false key into a cashpoint machine. This method also allows the PIN number to be recorded so the false card later created can be used in either cashpoints or shops.”
We understand that Bancaja have been in touch with card holders affected by this fraud and all stolen money reimbursed.
(Via Think Spain)
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