Hyderabad Cybercrime Police Bust Credit Card Fraud, 2 Delhi Residents Nabbed

Hyderabad: Two people, cheated a city-based man after promising to extend the validity date of his credit card, were arrested by the Hyderabad Cybercrime police on Monday.

A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a person for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.

Vineet Singh (28) and Deepak Singh (32), both natives of Delhi were arrested. According to the police, the duo called up people over the phone and posing as bank officials, told them their credit cards were about to expire.

“On the pretext of extending the validity, they collected One Time Passwords from the cardholders and duped them after withdrawing or transferring money from their accounts,” said KVM Prasad, ACP (Cybercrime), Hyderabad.

Upon a complaint from the victim, who lost Rs 50,000 to the gang, the Cybercrime wing registered a case and traced the fraudsters to Delhi. A special team then reached Delhi and took them into custody.