Fraudulently purchased goods were being shipped

Royal Cayman Islands Police have
recently recovered more than US $7,500 in fraudulently purchased property that
was about to be shipped from the Cayman Islands, according to investigators
with the Financial Crime Unit.

The investigation by the Financial
Crime Unit revealed that bank cards belonging to customers were used to make
some of the purchases. Police said those cards had been compromised through
transactions by people who obtained the personal card details of the legitimate
cardholders, resulting in the loss of funds.

“We have recently identified a
number of fraudulent transactions by persons currently in police custody,”
Detective Constable Richard Clarke said. “The Financial Crime Unit, in working
with officers from the Criminal Investigation Department, were able to recover
most of the fraudulently purchased property from a container prepared to be
shipped abroad.”

Detective Clarke said the items
from the container cost an estimated US$7654.84. 

Mr. Clarke said the investigation
has determined that bank account holders, while still in possession of their
actual bank card, become victims of fraud when the card information is cloned
to another card with the details for use.

There are various methods used by
criminals to obtain this information, one of which is by way of “skimming”.
This method is used to read and copy the information on the magnetic strip of a
credit card.

For cardholders to reduce the risk
of being victims of this type of offence, police request that the following
points be considered:

• Keep an eye on your card during
any transaction, and get it back as quickly as possible

• Void incorrect receipts

• Open bills promptly and reconcile
accounts monthly

• As much as possible, observe
restaurant employees when they are handling your card

• After the purchase, check to make
sure you were handed back the right card.

Police advise cashiers to ensure
that all transactions are closely scrutinised and that the full name of the
person on the card be matched against the name produced on the sales receipt.
If this is not consistent, police said, the cashier is to notify the supervisor
immediately and consider contacting the police.

Anyone who believes that their
cards may have been compromised should contact the Financial Crime Unit on