Extensive Synthetic-Identity Fraud Scheme Uncovered in Peel Region

Toronto police have charged nine residents from Peel Region, specifically from Brampton, Mississauga, and Caledon, as part of a large-scale synthetic-identity fraud operation dubbed ‘Project Deja Vu’. This extensive investigation, which began in October 2022, has led to a total of 102 charges being laid against individuals involved in the fraudulent activities that commenced back in 2016.The accused allegedly created over 680 fictitious identities, which were used to open numerous bank and credit accounts across various financial institutions in Ontario. These accounts were then exploited for in-store and online purchases, cash withdrawals, and electronic fund transfers. In some instances, fraudulent payments were reportedly made into these accounts to extend their credit limits illicitly.The fraudulent activities have resulted in confirmed financial losses amounting to approximately $4 million, according to the Toronto Police Service. The investigation was initially triggered by a report from a financial institution that identified several suspicious accounts, most of which were linked to a former employee of the company.Throughout the course of the investigation, law enforcement executed more than 20 search warrants and 80 production orders to trace the flow of the proceeds from these crimes. These efforts led to the seizure of dozens of synthetic identity documents, fraudulent government identifications, electronic templates for creating false identifications, and hundreds of payment cards linked to the fraudulent accounts. Additionally, approximately $300,000 in Canadian and foreign currency was confiscated.Among those charged, a 28-year-old man from Brampton faces 16 counts including fraud over $5,000, forgery, and laundering proceeds of crime. Other individuals from Brampton, Caledon, and Mississauga face various charges ranging from fraud over $5,000 to unauthorized possession of credit card data and possession of proceeds of crime over $5,000.This case highlights the complex nature of synthetic identity fraud, a type of financial fraud where fabricated personal information is used to deceive banks and other financial entities. The ongoing legal proceedings and further investigations aim to dismantle this fraudulent network and mitigate future financial crimes of this nature.