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Major bogus credit card racket busted

Major bogus credit card racket busted

Don't be upset if you are facing a cash crunch and your company is not ready to pay Diwali bonus this year. In a unique case of Hawala operations to tackle the liquidity crunch during the festive seasons, retailers are offering cash through bogus credit card bills. The user gets cash, the trader his percentage and the bank gets its due along with a valid bill.

01 November,2010 12:00 PM IST

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