- May 1, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Project Deja Vu: Major Identity Fraud Investigation Results in 12 Arrests and 102 Charges
The Toronto Police Service has recently brought to light a significant identity fraud investigation called Project Deja Vu, which has led to 12 arrests and the laying of 102 charges.
The investigation, initiated by the Toronto Police Service Financial Crimes Unit in October 2022, centers around a synthetic-identity credit fraud scheme that dates back to 2016. Allegedly, the perpetrators created over 680 unique synthetic identities, using them to establish numerous bank and credit accounts across various financial institutions in Ontario.
Furthermore, these fraudulently obtained accounts were utilized for in-store and online purchases, cash withdrawals, and electronic fund transfers. Some accounts even received fraudulent payments to enable transactions beyond their designated limits, resulting in losses of approximately $4 million.
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The investigation gained momentum following the discovery of synthetic accounts by a financial institution, triggering the Financial Crimes Unit to take action. Multiple search warrants were executed, and the Halton Regional Police Service aided in the investigation’s progression.
To date, the Toronto Police Service has carried out over 20 search warrants and 80 production orders to further delve into the case and track the movement of proceeds generated by the synthetic identity frauds. Among the items seized were synthetic identity documents, payment cards associated with fraudulent accounts, and a substantial amount of cash.
Synthetic identity fraud not only enables financial fraud but also facilitates other serious criminal activities such as money laundering linked to human trafficking, drug trafficking, and armed robbery.
The Toronto Police Service extends its gratitude to its law enforcement counterparts and government agencies for their collaboration throughout the investigation, demonstrating the importance of coordinated efforts in combating such fraudulent activities.
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****** just grabbed a
>The investigation began with a report from a financial institution who located several synthetic accounts, most of which had been opened by a single person who had previously worked on behalf of the company.
I love the fact that there’s an insider element.
Noticeable pattern in this TPS report about this crime?
Interesting that this investigation had the full weight of the resources of the police when it was the banks that were the primary victims here. It is very different when a bank can make the customer responsible and they are completely uncooperative in any effort to investigate.
Starting to notice the pattern here…
I think Doug Ford should protect Ontario residents by allowing them to freeze their credit just like Quebec does. If you can freeze your credit, it becomes much harder to steal your identity for the purposes of obtaining loans in your name.
What a big fucken surprise. Got to love our immigration system.
A criminal record should prevent them from becoming Canadian Citizens
how surprising.
Very related:
Highly recommend Lex Friedman 409 with Matthew Cox!
Goes deep in the details of synthetic identity theft, including fake mortgages, appraisals, fake appraisal companies.