Ayr man arrested along with 11 others in credit card scheme: Police

Twelve people have been arrested in a lengthy synthetic-identify fraud investigation involving credit accounts that exceed $4 million in lost funds, Toronto police announced.

The results of Project Deja Vu were revealed on Monday.

Detective David Coffey said that in 2022, the Financial Crimes Unit began investigating a synthetic identity credit fraud scheme that began in 2016.

Multiple suspects allegedly created more than 680 unique synthetic identities, many of which were used to apply for and open hundreds of bank and credit accounts at various banks and financial institutions across Ontario.

The fraud credit accounts were used for in-store and online purchases, cash withdrawals, or electronic fund transfers. Det. Coffey said many fraudulent payments were made into the credit account to allow them to exceed their limits, and to date, this scheme has resulted in losses of approximately $4 million. 

A financial institution flagged Toronto police, who located several synthetic accounts, most of which had been opened by a single person and former employee.

“The investigation concluded by identifying most financial institutions were victimized by this scheme,” Det. Coffey said.

Authorities executed multiple search warrants, including several dozen synthetic identity documents (including fraudulent government identification) and electronic templates to create false identifications and false documents.

What is synthetic identity fraud?

Synthetic identity fraud is a form of financial fraud in which fictional personal information, such as identity information, is used to open accounts with banks, financial institutions, or other businesses.

Unlike traditional identity theft, where the thief steals an existing person’s information, synthetic identity fraud involves fabricating a new identity altogether.

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The fraudster might use a person’s social security number obtained illegally, combine it with a fake name, date of birth, and other fabricated details to create a synthetic identity and use stolen or fake addresses and other personal information to make the identity appear legitimate.

“The fraudsters are really smart. They’re advancing with technology, and the identification is very convincing,” Det. Coffey said. “It often does get caught at the financial institutions, but it doesn’t always get caught.”

Once the synthetic identity is created, the fraudster may use it to open bank accounts, apply for loans, obtain credit cards, or commit other types of financial fraud. This type of fraud can result in significant economic losses for businesses and individuals and damage to credit profiles and reputations.

12 charged, police believe additional arrests could be made

Investigators believe there may be additional incidents and victims and are hoping to speak with various businesses that were approached by any of the arrested persons.

Authorities also believe that some of the accused performed home renovations in the GTA.

Toronto police identified 12 people charged as part of Project Deja Vu. They include:

Muhammad Hamza Baig, 31, of Ayr, Ont.

• Fraud Over $5,000
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000
• Obstruct Peace Officer
• Utter Forged Document

Hasnain Akram, 28, of Brampton

• 16 counts of Fraud Over $5,000
• Forgery
• Possess Instrument of Forgery
• two counts of Possess Counterfeit Mark
• Unauthorized Possession of Credit Card Data
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000

Zelle Ali Choudary, 34, of Brampton

• Six counts of Fraud Over $5,000
• Possess Counterfeit Mark
• Unauthorized Possession of Credit Card Data
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000

Rashad Iqbal, 41, of Caledon

• Fraud Over $5,000
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000
• Unauthorized Possession of Credit Card Data

Ranafayysal Masood Khan, 38, of Mississauga

• Fraud Over $5,000
• Obtain Credit by False Pretences
• Unauthorized Possession of Credit Card Data

Anmol Khurana, 27, of Markham

• Fraud Over $5,000
• Obtain Credit by False Pretences
• Cause Another Person to Act on a Forged Document

Fahad Ben Mofeez, 30, of Brampton

• Seven counts of Fraud Over $5,000
• Unauthorized Possession of Credit Card Data
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000

Muhammad Usman Saif, 32, of Brampton

• Seven counts of Fraud Over $5,000
• three counts of Possess Counterfeit Mark
• Unauthorized Possession of Credit Card Data
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000

Ali Sana, 26, of Brampton

• Five counts of Fraud Over $5,000
• Forgery
• Possess Instrument of Forgery
• two counts of Possess Counterfeit Mark
• Unauthorized Possession of Credit Card Data
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000
• Deal with Identity Information Knowing or Being Reckless that a Fraudulent Offence was Intended

Mian Muhammad Saud, 35, of Belle River, Ont.

• Fraud Over $5,000
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000

Sibt Hussain Syed, 60, of Brampton

• Four counts of Fraud Over $5,000
• two counts of Possess Counterfeit Mark
• Unauthorized Possession of Credit Card Data
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000

Mueed Tanveer, 27, of Brampton

• Three counts of Fraud Over $5,000
• Laundering Proceeds of Crime
• Possession of Proceeds of Crime Over $5,000
• Trafficking in Identity Information