The Nation : Credit Card Rings Broken

Investigators have broken two credit card counterfeiting rings suspected of producing a major share of the bogus bank cards being used worldwide, federal agents and banking officials said in New York. State and federal officials seized more than 20,000 fake cards and materials to make 80,000 more--enough to mean a potential loss to banks of $500 million, the officials said. Fifteen persons were arrested and four Manhattan printing plants were raided following yearlong undercover investigations, authorities said.