Three men arrested in connection with suspected credit card fraud on Tuesday by Kowloon detectives were still in custody last night.
Police believe they have smashed a cross-border syndicate whose members used other people's credit cards to make about $1.5 million in purchases and cash advances in Hong Kong and China. The men, aged between 32 and 41, have been detained at Kowloon police headquarters.
Several people alleged to have connections with the syndicate were arrested by Public Security Bureau officers on the mainland, but it was not known last night how many.
Police and their mainland counterparts mounted a cross-border operation on Tuesday after the syndicate was believed to have used the cards to spend the $1.5 million recently.
Police believe the syndicate members in Hong Kong had targeted old buildings in the territory which did not have proper security equipment.
It is believed they stole letters from banks containing personal data of residents. Police allege the syndicate used the details of 25 people to make 170 applications for credit cards from different banks and finance companies. Of these, 75 credit cards were approved and were sent back to the applicants by post.
