Title
Consideration of and action on a resolution to seek and accept a Walmart Foundation Community Grant.
Body
Payment card fraud is rampant across the United States. Criminals who once made a living selling narcotics and handling stolen goods have discovered stealing credit cards and laundering money with prepaid cards is an easier, more lucrative and low-risk business. Plastic cards have become the preferred method for moving illegal funds. Criminals skim card information from unknowing consumers, or buy stolen credit and debit card numbers on the Dark Web. They then transfer this info to other plastic cards, such as hotel room keys or even legitimate credit and bank debit cards. This makes detection and interrogation nearly impossible. Without the proper tools to investigate and confiscate the funds from these plastic cards, criminals keep the money from prepaid cards and continue their illicit operations.
ERAD - Electronic Recovery and Access to Data software will allow Police Department personnel to quickly detect fraudulent credit cards, identify information encoded on cards, and freeze illicit funds.
Summary:
Presentation of and action on the seeking and accepting a Walmart Foundation Community Grant.
Fiscal/Budgetary Impact:
Grant will be awarded for $3,000 to cover the cost of the E.R.A.D. software for 1 year. The cost for subsequent years will be put into the Police Department’s budget provided the first year is a success.
Recommended action
Approve Resolution.