New Form of Credit Card Theft Hits Malden Massachusetts

MALDEN, Massachusetts.- Malden police have made a startling discovery. According to Lieutenant Marc Gatcomb, two suspects were arrested and 40 fake credit cards were found in one of the suspect’s cars. The scheme involved the suspects stealing about 80 gift cards from a local CVS store. Then the suspects wiped the numbers off the gift cards and embossed numbers from stolen credit cards. The cards were then magnetized to match the corresponding numbers embossed on the front of the cards.

Malden police believe that this is not the first time the suspects have created new credit cards using stolen information and gift cards. Several local and out of state retailers have contacted the police believing they have been a victim of the suspects.

Currently the suspects are out on bail and the Secret Service is using special software to track down the banks where the stolen card numbers came from. Police are urging cardholders to keep a close eye on their statements.

Source: http://www.myfoxboston.com/story/18688489/alarming-new-form-of-credit-card-theft

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