The Australian Federal Police has arrested three people for manufacturing more than 10,000 fraudulent credit cards with a potential value of $25 million.
The Police busted the identity crime threesome, two from Malaysia and one from Hong Kong, in Victoria, and seized cash and “sophisticated manufacturing equipment” used to make the cards.
The maximum penalty for these offences is reportedly 10 years imprisonment.
“The Australian Federal Police (AFP) Identity Security Strike Teams (ISST) are part of a taskforce comprising a number of agencies including the Victoria Police Force,” said a press release.
“AFP officers executed a search warrant at a residential address in the eastern Melbourne suburb of Mitcham overnight (Thursday, 17 November 2011).
“During the search warrant, officers seized 10,000 fake credit cards and a large amount of related sophisticated manufacturing equipment.
“Earlier in the day, officers arrested a 38-year-old Malaysian man in possession of $60,000 in cash on a Camberwell street.
“A 38-year-old Hong Kong man and a 41-year-old Malaysian woman were also arrested in Mitcham after a short pursuit on foot.
“The 38-year-old Malaysian national will be charged with offences relating to the manufacture of counterfeit credit cards and the possession of equipment to manufacture counterfeit credit cards. The man will also be charged with offences relating to possessing proceeds of crime and a false foreign passport. All three alleged offenders will also face money laundering charges.”
AFP Manager Special References Chris McDevitt said a significant Melbourne-based money laundering syndicate has been dismantled.
“These arrests are yet another example of the AFP’s ability to target and disrupt serious organised crime within Australia,” Commander McDevitt said.
“With a financial exposure of about $2,500 per card, this AFP led operation has prevented a potential $25 million worth of fraudulent transactions.”