Federal authorities in New Jersey say a fourth defendant has pleaded guilty in a massive credit card fraud case. The latest guilty plea was in connection to a scheme that involved more than 25,000 fraudulent credit cards and resulted in fraud losses estimated to total more than $200 million. Financial fraud expert Al Pascual says the case highlights the need for more due diligence by banks. The case illustrates the fact that banking institutions must do more to ensure they are going back to review accounts, as well as loan applications, after they are opened.”]
Source: https://www.bankinfosecurity.com/guilty-plea-in-massive-card-fraud-a-5982/op-1