{"id":7014,"date":"2014-10-30T20:06:26","date_gmt":"2014-10-31T03:06:26","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=7014"},"modified":"2014-10-30T20:10:40","modified_gmt":"2014-10-31T03:10:40","slug":"twenty-nine-arrests-made-cracking-cards-scheme","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=7014","title":{"rendered":"Twenty-Nine Arrests Made In “Cracking Cards” Scam"},"content":{"rendered":"

CHICAGO<\/strong>\u2014Twenty-nine \u00a0defendants are facing state or federal charges following an \u00a0investigation of \u00a0\u201ccracking cards,\u201d a scheme that costs banks millions of dollars, has its roots on Chicago\u2019s south side and is spreading to other cities through rap music and social media, officials said.<\/p>\n

Since 2011, the defendants and other individuals allegedly deposited counterfeit checks into banking accounts belonging to third parties who surrendered their debit cards and PINs for use in the cracking cards schemes, officials said.<\/p>\n

Authorities said\u00a0defendants then allegedly used automated teller machines, casinos, currency exchanges and retail stores to withdraw or spend funds that the banks advanced to the third-party accounts fast.<\/p>\n

The banks lost money they advanced to the account holders when the customers denied responsibility for the withdrawals and purchases, officials said.<\/p>\n

Cracking cards schemes have become a popular method of obtaining illicit funds in Chicago and surrounding areas.<\/p>\n