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August 24, 2010

iTunes scamming dozen charged with fraud

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by Darren Allan

Twelve people have been charged with fraud and money laundering over an iTunes and Amazon scam which utilised stolen credit cards.

The FBI and Metropolitan Police e-crime unit cracked down on the scam in a joint effort which led to the arrests.

Apparently, the gang operated by putting their own music tracks on iTunes and Amazon, which they then bought in bulk using the stolen credit cards. Royalties were then collected on the purchases from Apple and Amazon.

Royalty payments to the tune of several hundred thousand pounds were reportedly paid out by the unwitting companies. The various suspects are due to appear in court three weeks tomorrow.

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