At least 10 jewelers across the country have sustained losses due to a credit card fraud gang that used phony IDs to attain in-store credit, accoridng to the Jewelers’ Security Alliance’s recent bulletin.
The suspected gang members are Asian males that use fake California drivers’ licenses to obtain store credit, and then typically buy a watch in the $7,000 to $25,000 range. The licenses are obtained through identity theft, and are almost impossible for jewelers to detect, the JSA says.
The JSA recommends store employees be alerted to this gang, and urges owners to review their contracts with their credit card providers to determine the policies regarding charge backs in fraud cases involving identity theft.
Losses or fraud attempts attributed to this gang have been reported in Nevada, New York, Michigan, Montana, Illinois, Colorado, Pennsylvania, Connecticut, New Jersey, and Massachusetts.