Real Estate Bank clarification on counterfeited VISA and MASTER CARDS
Syria, Business, 7/5/2005

Syrian Real Estate Bank said Monday that the counterfeited world VISA and MASTER CARDS confiscated recently in Syria do not constitute a serious breach of banking dealings in Syria.

Mrs. Sawsan Bishara, Head of Cards Department at the Bank, told SANA that the Bank deal with VISA and MASTER CARDS, adding that such forgeries usually happen in any other country that deals with these cards.

She said that all the 24 faked cards came from outside Syria, including countries that have been dealing with them for a long time, adding that the Syrian Real Estate Bank has not so far issued any such cards.

Mrs. Bishara said the money had been withdrawn by the two detained men who counterfeited the cards and had been brought to justice for trial. The withdrawn money belong to accounts and assets of citizens of various nationalities, and is deposited in banks outside Syria.

She said the withdrawn money amounted to one million and 388,853,00 Syrian Pounds, adding that the two men were studying in a European country and withdrew the money before they came to Syria.

Bishara said her bank has been controlling all dealings through its equipment to thwart any new counterfeits.

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