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Nothing is Sacred When it Comes to Credit Card Fraud

By Brian Riley
February 16, 2018
in Analysts Coverage
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By definition, credit card fraudsters are thieves.  Here’s an example of how abuse can be so far out of hand.

  • The former chief counsel for U.S. Immigration and Customs Enforcement, known as ICE, in Seattle, who recently stepped down from his post, pleaded guilty Thursday to stealing the identities of at least seven immigrants to defraud credit card companies.

  • Sanchez admitted to using ICE’s database to find and track down immigrants’ IDs to open fraudulent credit cards. He also admitted to claiming three immigrants as dependents on his 2014-15 tax returns.

It can send shivers down your spine.  A federal employee with access to personal information on vulnerable people and enough data to create false identities.

  • The Justice Department brought forth the charges against Sanchez earlier this month. The department contends Sanchez stole seven immigrants’ identities and defrauded credit card companies out of more than $190,000.

  • Wire fraud carries a sentence of up to 30 years in prison and a $1 million fine. Aggravated identity theft carries a mandatory two-year prison sentence and up to a $250,000 fine.

  • According to a report by the Associated Press earlier this week,the charges show that Sanchez sent an email from his government account to his Yahoo account with the personal information of Chinese immigrants, including a picture of his Green Card, the front page of the immigrant’s passport, and a utility bill under his name.

Then, as part of the fence, the attorney comments:

  • In a statement provided to the Times on Thursday, Sanchez’s lawyer said that her client is “a good person who has made serious mistakes.”

…where I come from, that’s called chutzpah, at best.

Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group

Read the quoted story here

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Tags: Credit CardsFraud Risk and Analytics

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