Ontario – The International Association of Financial Crimes Investigators-Investigative Partnership of the Year Award 2020 was presented to two Peel Regional Police officers for their exemplary work during an investigative project called “Switch”.
The lead investigators of the project are both members of the Fraud Bureau Credit Card and Organized Crime Team.
Project Switch involved a collaborative investigative effort between Peel Regional Police, Toronto Police and various financial institutions into a debit card scheme called “Bait and Switch”.
Individuals posing as legitimate taxi drivers perpetrated their fraud scheme on unsuspecting victims using a point of sale terminal designed to capture the victim’s PIN number. After the victim entered their PIN, the taxi driver would return a previously exploited debit card to the victim, often under the cover of darkness so the victim would not notice. Soon after the taxi driver or accomplices would deplete funds available in the victim’s bank account. Victims often would not discover the switch until they attempted to use the card later.
Between January 2019 and March 2020 it is believed that over 200 people where defrauded of more than 2.1 million dollars. The investigation concluded with the arrest of 5 individuals, the laying of 48 criminal charges that included Fraud Under $5000, Possession of Credit Card Data and Possession of Property Obtained by Crime.
The officers have been recognized for their dedication, thoroughness and collaboration in the field of financial crimes.
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