Credit Card Fraud Ring Busted in Canada, More Than 60 Arrests Made

A massive credit card fraud ring netted over 60 arrests in Canada today during a large raid across several addresses.

Police in Quebec carried out early morning raids spanning more than 60 locations, in a credit card fraud ring estimated to be valued at more than $100 million. The massive credit card fraud network spanned many countries and has been under investigation since 2008, and 250 RCMP officers rounded up suspects beginning at around 6AM Wednesday.

RMCP constable Erique Gasse described the efforts to net the dozens of accused fraudsters in the credit card ring in the early morning hours Wednesday, and Canadian press detailed the events unfolding:

“As Gasse spoke, a line of non-descript cars and SUVs was parked, engines running, underneath the Metropolitan Expressway, opposite the Montreal police North sector headquarters. One by one, the vehicles were being driven into the police parking lot…

The vehicles contain people already in custody, Gasse explained, “and they are being taken in for fingerprinting and identification.” …The Sûreté du Québec and police forces from Laval and other municipalities also took part in the raids, Gasse added.”

Gasse explained that back in November of 2010, 30 search warrants were executed in connection with the same massive credit card fraud ring, but at that time, no arrests were made in the investigation. According to the RCMP, those taken into custody this morning may face an array of charges, including fraud, identity theft, and participation in a criminal organization.

In addition to Canada, the credit card fraud ring is said to have been operating in Australia, New Zealand, Malaysia, Tunisia and England.