January 24, 2012

RCMP foils major payment card fraud ring

TORONTO--The Royal Canadian Mounted Police Integrated Counterfeit Enforcement Team (ICET) cracked a major credit and debit card fraud ring on January 21, 2012. It is alleged the organization was responsible for the theft of credit and debit card data from unsuspecting victims throughout Canada. Investigators further advise the ring was allegedly "cloning" Pin Pads at local merchants throughout the GTA to obtain financial data. Data was then to be loaded on to blank or overwritten payment cards and utilized to fraudulently access cash from bank clients.

Debit and credit card losses attributed to fraud continue to remain at a high dollar value. The RCMP reminds Canadians to be vigilant in safeguarding their personal and financial information.

"With the assistance of York Regional Police Service, the ICET made these arrests," stated Acting Inspector   Henry Tso  of GTA Commercial Crime Unit.  "Arrests such as these remain an important priority for the RCMP and law enforcement around the globe."