A billion taken in bank card scam - Jaden Hudson FunnyOrDie

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• A billion taken in bank card scam

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Over 200 people have been arrested in connection
with a massive bank card fraud that may have
bilked banks and clients out of a billion yuan
(159 million), the Xinhua News Agency reported
yesterday. The Ministry of Public Security
detained 208 people in eight provinces and
municipalities. Police said they confiscated
thousands of bank cards and have frozen 150 bank
accounts. Police in eight regions coordinated
the bust on June 11, following a lengthy
investigation of key suspects including a
Taiwanese surnamed Wu and a South Korean surnamed
Park.
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The investigation began in November 2011, when
two Taiwanese were caught using a counterfeit
bank card to withdraw cash from an automatic
teller machine (ATM) in Shaoxing, Zhejiang
Province, according to the ministry. A
similarly faked card was used three days later
when another suspect tried to withdraw money from
an ATM on Jiefang Road in the city. The police
investigation concludes that banks in South
Korea and Thailand were the main targets of the
swindle.Local police in Shaoxing confirmed to
the Global Times yesterday that 146 suspects were
arrested in the city alone.
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"All 208 suspects are now here for questioning,
and no further details can be provided at the
moment," a police officer surnamed Sun from
Shaoxing public security bureau, told the Global
Times.The Shanghai-based Oriental Morning Post
reported that the bust involves the largest
amount of money and the most suspects of any bank
card fraud in China. It is not known how the gang
may have managed to swindle hundreds of millions
of yuan from Chinese ATMs without being detected
earlier. Police say suspects in South Korea
bought the phone numbers of bank clients online,
and managed to scam them by posing as bank
officials who were concerned their accounts were
at risk, said Xinhua.
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 The clients were told to use their account
number and password to log onto seemingly
official South Korean websites. After obtaining
the bank client's account information, it was
passed to cohorts of Taiwanese origin, who forged
bank cards enabling money to be withdrawn from
ATMs in China."Multinational supervision of
such a crime is quite difficult due to a lack of
information sharing and cooperation," Hong
Yanrong, a professor of Law School in Peking
University, told the Global Times. "Such fraud
involving several nations is easier to
commit."  The banks that were targeted include
several Korean and Chinese banks, the newspaper
reported