Dormant, unchecked credit card accounts leave you vulnerable to fraud
10:22 AM, Jul 2, 2013
You may want to check on the credit cards you haven't used for awhile. Your dormant accounts might be the most susceptible to fraud.
An abandoned, partially built strip mall is a surprising illustration of the problem. Work on it came to a halt after contractors on the job were arrested.
It all started with one bad credit card company employee.
"She knew that these were dormant accounts which the businesses had lost track of, so she would go in and manipulate the account," said U.S. Postal Inspector Mona Hernandez.
She created new credit cards based on these dormant accounts and asked accomplices to use the cards.
"Multiple contractors were arrested in this case. Many of them were recruited as the runners to purchase equipment that was used for the purposes of building materials," said Hernandez.
The contractors bought construction equipment and either sold it or used it on their projects. In all, there were 50 victims.
Postal inspectors caught the mastermind behind the crimes.
"She ended up confessing to compromising 30 to 40 dormant accounts," said Hernandez. "This is something that can affect anyone, not just businesses. If they have accounts that are dormant or unused, they have to get those closed."
Postal inspectors also recommend checking your credit report, which may indicate any unused or dormant accounts in your name.