14 DAY TRIAL // Australian authorities have arrested five men suspected to be members of a fraud gang that used false identifies and counterfeit credit cards to buy goods valued at over $1 million.
The Age reports that over 70 police officers executed search warrants on Wednesday at multiple residences in New South Wales (NSW) and South Australia, from where the five suspects were taken into custody.
The alleged fraudsters have been charged with various offenses including dishonestly dealing in financial information, dealing in the proceeds of crime, dealing with identification information, making/using a false instrument and participating in an organized criminal group.
The investigation began in 2009, based on information received from the Australian Crime Commission, and was conducted by the Identity Security Strike Team (ISST), a multi-agency taskforce composed of officers and agents from the Australian Federal Police, NSW Police Force, NSW Crime Commission, Department of Immigration and Citizenship and NSW Roads and Traffic Authority.
During the raids, the police found equipment used in credit card counterfeiting, fake NSW driver licenses, 1,000 blank cards, a firearm and a special printer.
The five men are believed to have used the fraudulent payment cards to buy high value items like televisions, expensive liquor, luxury handbags, and other electronics which were then sold for a profit.
The fake documents, including driver licenses and Medicare cards, were being created and sold based on orders placed by other people.
“Syndicates such as this one pose a real threat to our financial system and the foundation of our society: a person’s identity,” commented Superintendent McQuillan, the AFP National Coordinator for ISST.
“Police urge the public to take steps to protect their personal information: keep your pin number safe and secure; check your financial statements regularly and alert your financial institution if you see any anomalies,” he added.