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It is an easy way for a small group of criminals to walk away with millions, if not tens of millions, of dollars!
The amounts are staggering! Every gas station has been hit and a surprising number have bought the gasoline back. Of course, credit card companies usually bear the cost. So, most gas stations do not realize how pervasive it is until they are touched by it.
Several of our clients have decided to take on these rings. In one case, a drug-running ring in Florida was broken. It was using stolen credit cards to buy fuel for its boats, using the boats to run drugs, and then moving the drugs on its trucks, which were identified at the stations. In another, a ring in Illinois was completely unraveled, including computers, databases and financial transactions. The returns for these companies have been better than they could have guessed.
It is easier to spot than one might think. Criminals are not sophisticated and companies do not usually pay attention, as it is usually a problem for the credit card company. So nobody is thinking about getting caught.
See CNN's Report: Pump & Dump
Post date: 2016-11-14 12:25:27
Post date GMT: 2016-11-14 18:25:27
Post modified date: 2016-11-15 14:12:19
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