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US proposes legal amendments to enable prosecution of overseas fraudsters

Monday 30 March 2015 10:44 CET | News

The US Justice Department has revealed plans to expand the current law regarding international carding rings.

The body mentioned it wants to prosecute those who commit fraud anywhere in the world that involves US payment card data.

According to a blog post from the Justice Department, it is too difficult for US law enforcement agencies to disrupt all parts of the carding ecosystem. That includes organized crime gangs, which often collect large amounts of payment card data, as well as those who buy the data to commit online fraud, create and sell fake cards or prepaid cards or employ low-level money mules to commit in-person fraud, using these fake cards at retailers or ATMs.

Therefore, the agency is proposing amendments to Title 18, the federal governments criminal and penal code. The amendments are aimed at making sure that the middlemen - those who profit from the sale of stolen financial data of Americans - can be brought to justice even if they are operating outside of the US.

However, legal experts have stated that such a move may lead to comebacks from other countries.
 


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Keywords: US, fraudsters, security, payment card, payment security, fraud
Categories: Fraud & Financial Crime
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Countries: World
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Fraud & Financial Crime






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