Latest News
- Court Sentences Bank Employee To 5 Years For Embezzling 100,000...
- Fake ‘Sheikh’ Sentenced To 2-yr As Court Overturns Verdict
- Justice Ministry New Service On The Sahel App
- Ministry Probes 68 Cases Of Illegal Charity, Funds Collection
- Globally, Kuwait Is Among The Top Consumers Of Incense And Oud O...
- Decrease Seen In Foreign Investment
- Kuwait Customs Seized 2 Containers Laden With Tobacco At Shuwaik...
- Unpaid Salaries, Accountant Beaten Up By Workers
- The Sahel App Was Not Hacked, A Spokesman Claims
- Four Expats Arrested For Stealing Copper Cables Worth 60,000 Din...
- Indian National Died In Abdalli Car Accident
- Work Permits And Foreign Worker Transfers Are Amended By PAM
Court Sentences 12 Men To 10 Years Jail For Money-laundering
The Criminal Court, presided by Judge Mit’ib Al-Ardhi has sentenced 12 men to 10 years in jail with hard labor and fined them KD 198,000 each, reports Al-Anba daily.
The court also acquitted one man, citing lack of evidence, and another to two-year imprisonment for forging Visa, MasterCard and other credit cards. According to case papers the men — believed to be members of an organized local and international gang — involved in money laundering activities.
The modus operandi was to steal the credit card numbers, reproduce fake credit cards and use them to deposit funds derived from illegal sources using special devices imported from outside the country to reproduce those cards in the names of dead or fictitious people and in some cases in the names of original card holders.
After reproduction of the fake credit cards, the network would then liquidate the funds through payments across several companies involved in different activities inside the country in agreement with them in return for monetary gains.
The gang received money in cash and transferred it through the local exchange companies to different countries around the world.
The network is said to have reproduced more than 100 credit cards for amounts exceeding one million dollars by using sophisticated devices for the transfer of data of the stolen and counterfeit credit cards and deposited illicit funds through fraudulent manners in an accurate and professional manner. The gang comprises two citizens and expats who do business online and travel agencies linked with the mafia outside Kuwait that mostly depends on stolen credit cards.
SOURCE : ARABTIMES
Trending News
-
Eid Al Fitr 2024: Crescent Moon Not Sighted In Sau...
08 April 2024
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
When Will Eid Al Fitr 2024 Take Place In Qatar, Ba...
08 April 2024
-
On Sunday, The Meteorological Department Warns Of...
07 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Gathering For Eid Al-Fitr Prayers: Kuwaiti Citizen...
10 April 2024
-
Winners Of Kuwait National Assembly 2024 Elections
06 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
Comments Post Comment