1.5 Million Dollars in Counterfeit Credit Cards Recovered

January 25th, 2001 10:30 a.m.

Vancouver, B.C.

Since its inception, the Organized Crime Agency of B.C. has identified Asian organized crime as being in the forefront of production and distribution of counterfeit credit cards throughout North America. Investigation identified the Lower Mainland of B.C. as the “hot bed” for these criminal activities. A number of the criminals involved were also identified.

On February 18th 2000 two residences in Vancouver and Richmond were identified and search warrants obtained, resulting in the seizure of instruments of forgery related to the manufacturing of counterfeit credit cards. Several people were taken into custody, questioned and later released. Based on the number of credit cards recovered (approximately 300) and the $5,000 dollar average credit limit on each card, the potential fraud of this operation was over 1.5 million dollars.

This complex investigation continued with one of the largest counterfeit credit card operations in North American history being identified on January 12th 2001. As a result, two search warrants were executed on residences in Vancouver netting an entire operational credit card factory. Again, several people were taken into custody, questioned and later released. The potential fraud loss of this operation exceeds 200 million dollars. The investigation is international in scope involving banking institutions throughout North America. We would like to thank the Canadian Banker’s Association for their assistance and cooperation throughout the investigation. This investigation is still extremely active which limits us as to what we can release to you today. We are confident that charges will be laid in the future.