In a remarkable case, Chennai police have busted yet another fake credit card racket. This follows a fake credit card racket busted by the police just last week when seven people were arrested and several bank officials were also named. The police arrested four people, even as a search was on for 11 more people in connection with the case.

Police said the gang had duped banks to the tune of Rs 65 lakh. The methodology of the gang was to avail credit cards from leading private banks by presenting fake documents. The police have also discovered three cars, a laptop, two LCD Tvs and 17 credit cards with the gang.

Speaking about this case, Central Crime Branch Deputy Commissioner D Vijaya Kumari said that a lot of loopholes exist in the credit card processing of leading private banks, which had outsourced 75 per cent of the process to private parties. This makes the banks susceptible to thefts from officials or those private parties.

"We had asked the banks to ensure that they provide cards only to genuine customers after perusing applicant's profile in detail," she added.

In the earlier case, seven persons were arrested by the Chennai Police and over 70 credit cards, which the gang had availed from various leading private banks after presenting fake documents, were seized from them.