Authorites bust identity theft ring

Four under arrest in New Jersey
January 17, 2008 11:16:26 AM PST
An identity theft ring that involved the personal information of 10,000 credit card holders was busted in New Jersey, federal authorities said today. Four men arrested by the U.S. Postal Inspection Service are expected to be arraigned at 2:15 p.m. this afternoon in federal court in Newark. A fifth suspect is at large.

HSBC Bank and American Express customers were among the victims, according to criminal complaint.

The suspects allegedly either used the personal information to open new accounts with banks or hijacked existing accounts by submitting change of address forms via the Internet.

Authorities say an unidentified co-conspirator aided them, providing an electronic spreadsheet including names, addresses, telephone numbers, and credit card numbers with expiration dates and three digit security codes for 10,000 individuals.