They say that “a life of crime doesn’t pay,” but a certain group of Montreal-based thieves might beg to differ. Recently, a group of criminals has been engaging in an activity called “tsunami fraud,” whereby they overload a group of ATMs, by taking out so much money, in such a short period of time, the fraud alert does not have time to react. The gang works by using pre-skimmed information from ATM machines. About a dozen members of the group use 20 or so forged credit cards on approximately 10 ATMs in the area. The hit is quick and dagger-like, and by the time the authorities are notified, the criminals have typically gone back into hiding.
Operations like Tsunami Fraud have been so lucrative that many criminal organizations are actually opting for credit and debit card fraud over transactions involving drugs or weapons. Unfortunately, the justice system is behind the times with regards to the severity of the punishment handed down for these crimes. The penalties are slowly improving, but currently, criminals are typically receiving less than two years in prison for these crimes. For many thieves, the benefits outweigh the consequences.
While Tsunami Fraud is an extreme case of credit misuse, there are many other day-to-day credit scams to avoid. Nowadays, it seems like everywhere you turn, there is a new offer for “the next great credit card.” Sure, these cards offer better rewards, lower interest rates, and lower annual fees, but how many of these deals have your best interest in mind? Given how much competition exists among credit card companies, it can be hard to sort through exactly which offers are too good to be true and which ones are just right for you.
Luckily, eCreditCards.com can help you figure out just that. This awesome new service helps you sift through the myriad credit card offers to help you pinpoint the one that is just right for you. You can narrow your search based on factors like interest rates and rewards and then compare cards from different providers, which offer similar services. You can also search for credit cards based on your credit score, personal bank, or desired card provider. Basically, eCreditCards exists to make your search a cinch.
Beyond just sifting through existing offers, with eCreditCards, you can even fill out an online application. In some cases, you can get a response in a minute or less. Maybe if the Tsunami Fraud criminals knew just how easy getting the perfect new credit could be, they would not have engaged in such illegal activity. For the rest of us, who do not operate on the wrong side of the law, it’s time to get the finances rolling with eCreditCards.