Lenders greed see's them hung on their own petard

[JonCris]

How?

Well it works like this

1/Crook clones card but is unsure how much credit is available or knows there isn't much

2/ Crook goes into bank with cheque from another fictitious account drwan on another bank & puts money onto the card

3/ Thief now knows how much is on the card on goes off on a spending spree

This way even maxed out cards have value & all because the banks have resisted speeding up the clearance system because it would lose them money from the money markets

Hence the meaning of their own petard


Have a nice day

[raydetinu]

Definition of PETARD - 'Bomb' or IED; how can hang on a bomb.

But I know what you mean!

[skbuncks]

Petard - type of medieval bomb used to blow up fortifications etc

Hung/hoist by your own petard - To be injured by the device that you intended to use to harm others

skb