Three NY Residents Arrested for Credit Card Fraud at Newport Grand
News from Patch.com:

Three Jamaica, NY residents were arrested at Newport Grand on Sunday night, Jan. 6, for conspiracy and fraudulent use of credit cards charges.

Porcha McDermon, 21, of 17917 134th Ave., was charged with conspiracy and three counts fraudulent use of credit cards. James Jackson, 20, of 11630 Guy R. Brewer, was charged with conspiracy and seven counts of fraudulent use of credit cards. Anthony Williams, 22, of 630 Riverside Dr., was charged with conspiracy and four counts of fraudulent use of credit cards.

Another suspect left the scene before police arrived.

According to police reports, the three were using counterfeit credit cards to obtain $ 1,000 cash advances from Newport Grand. Police found $ 5,986 on Williams and Jackson.

An employee for the casino told police that Williams and McDermon had each cashed three $ 1,000 cash advances throughout the evening at the customer service window. When she noticed they had not been gambling, she notified the manager.

Police found nine credit cards with the suspect’s names on them in a trash can which had numbers assigned to different cards. The credit card advance company confirmed the card numbers were issued to different banks. ¬†

McDermon was also hiding two counterfeit cards, which police located on her back at the station.

They also found receipts for $ 2,000 worth of wi…………… continues on Patch.com

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Keep closer tabs on seniors who apply for credit cards
News from TODAYonline:

I generally agree with Mr Harry Chia’s remarks in “Plans to relax credit card rules for seniors welcomed” (Dec 28), as the silver tsunami has hit our shores.

I am wary, though, of the Monetary Authority of Singapore’s (MAS) proposal to allow seniors to obtain credit cards if they have a guarantor.

Many in this group may not be financially independent, possibly not financially disciplined or have not created a sufficient nest egg for their twilight years, hence their need for a guarantor, who would likely be a younger family member.

This would put a strain on that guarantor’s financial standing.

Under certain conditions, though, a credit card would be feasible for seniors without a regular income but who have been financially savvy.

First, their credit history must be checked: They should have no payment defaults and minimal debt servicing obligations for a home, car, et cetera.

Their bank balances must be checked. They should have good-sized savings in the banks that can offer them a credit card. Banks generally have the right of legal set-off for debts owing to them against the debtor’s assets in a credit default situation.

Deposits should not be pledged, but these cardholders could be required to maintain a minimum balance to back their credit limit.

They should also have a net worth of at least S$ 750,00…………… continues on TODAYonline

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