Police have charged seven people with 357 charges in an ATM fraud case in Toronto and throughout the GTA.
Authorities say an organized crime group is suspected of installing ATM tampering devices and the subsequent distribution and fraudulent use of credit card data.
At least 1,500 debit and credit chip-card users were affected by the fraud scam. The Canadian financial loss is estimated at $360,000, but that total is expected to rise once foreign financial losses have been added.
Syilen Marinov, 34, the alleged leader of the group, is charged with participation in a criminal organization and related offences. Boyko Simenov, 41, Aleksandar Mihov, 28, and Assen Dotchev, 29, face the same charges.
Dimitre Kerelski, 33, and Daria Boussarova, 26, are charged with offences relating to possession and use of ATM tampering devices. Dimitar Raykov, 35, is charged with trafficking of credit card data. All seven accused are from the Toronto area.
Information was trafficked to Bulgaria, Chile, South Africa, Mexico, the U.S. and the Dominican Republic, where cards were used at ATMs for cash withdrawals. Police also allege the criminal organization installed ATM tamper devices throughout Ontario as well as in the U.S., Australia, and Indonesia.
Currently it is unclear whether counterfeit cards were manufactured in Canada or the information was sent electronically out of the country.
The suspects and arrests were the result of "Project Holiday," an organized crime investigation by police on international, federal, provincial and municipal levels. The ongoing investigation started in October 2011 and culminated when search warrants were issued February 16.
After executing search warrants at two Toronto homes on December 14, authorities found equipment used to manufacture and distribute ATM tamper devices.
"Each and every one of us here are potential victims," Staff Insp. Bryce Evans said in a media conference at 11 a.m.
Police are also asking for assistance to locate Dimo Bakalov, 28, of Toronto, and 12 persons of interest whose photos are posted on the Toronto police website.
