A suspect in the "Mummy Bandit" bank heists has been arrested, CTV Toronto has learned.

According to police sources, 26-year-old Brandon Michael Smith was arrested in Toronto late Thursday afternoon.

The elusive "Mummy Bandit" is wanted in connection with about a dozen bank heists across Toronto that have taken place over the past nine months.

His first robbery took place in October, when police say he robbed a bank at gunpoint while wearing a scarf around his face, earning him the famous nickname.

Police believe the "Mummy Bandit" has hit more than 10 banks across the city, focusing mostly on the Trinity-Bellwoods neighbourhood.

Late last month, they cautioned he was becoming more violent in his heists and had stopped wearing his disguise.