List of Credit Card Companies in the WorldA list of the world's credit card companies
Only Arif Afaq and Asad Khan don't even coexist. Afaq and Khan were in fact only two of more than 7,000 fake identifications. He was one of the greatest credit card scammers in time. Buying expensive automobiles, electronic equipment, spas, and billions of dollar in bullion. Dozens of million US dollar were transferred abroad, with the money from their supposed crime going to Pakistan, India, the United Arab Emirates, Canada, Romania, China and Japan.
Everything began with what the public attorneys referred to as the "make-up" phase, the establishment of a fake ID - Arif Afaq, say, or Asad Khan - by creating a string of forged records. There then came a wrong profiling of the large credit bureaus that provide credit reporting to credit institutions, which determines whether individual borrowers are eligible for credit and new or higher credit card limit.
The idea was to create the conditions for the second phase, or "inflate", when scammers were feeding wrong credit rating information to the credit bureaus. For example, the adress of Arif Afaq was also associated with at least two other fake identifications. Employing a coalition of illicit companies named Trade Line vendors, they contributed to improving the credit profile of fake identity.
Commercial transactions are credit facilities in a credit story that Mrs Adams, who was one of last week's detainees, is said to have been forged and then included in credit records of the fraudsters' wrong identity, which helps them obtain bigger sums. Qureshi sampled seven forged identity card accounts with 163 different credit card accounts, causing more than $1.3 million in receivables defaults and chargebacks.
In total, the suspected scam is said to have concerned more than 25,000 credit card numbers.