Dawn raids net banking fraud gang

Police arrest 13 people in connection with £3m racket

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Police have arrested 13 people believed to be connected to a £3m banking fraud scam.  Eight men and five women were held during searches of 14 addresses including a number in Ealing and Hammersmith. 

The raids were a part of a City of London Police investigation into a criminal gang suspected of opening bank accounts in false names, using false documents and then running up significant debts on those accounts.  Amongst the gang was a member of staff from a bank in Ealing. 

During the early morning raids, officers also seized various items of property during the searches, including two high value cars and banking documents.

Detective Sergeant Martin Peters of the City of London Police said "This investigation has focused on the addresses of a group of organised individuals, who have been fraudulently attacking the UK clearing banks by opening bank accounts in false names using false documents. We suspect that this gang has stolen nearly £3 million.”

"During this investigation, we have been working closely with all the financial institutions. These liaisons have been invaluable in developing our inquiries. The City of London Police will continue to take a robust stance in targeting and dealing with gangs that target the financial industry."

With card cloning being the hot topic of discussion on the Chiswickw4.com forum this week, the news that at least one gang has been put out of action will come as a slight comfort.

February 23, 2006