According to Toronto, Canada's CTV, seven people face charges in an alleged ATM skimming operation.
Halton Regional police officers raided residences in Brampton, Mississauga and Toronto, arresting seven people and seizing cash, credit card forging equipment and several fraudulent credit cards.
Police in the Greater Toronto Area began an investigation earlier this month into the group, which they believe is responsible for $245,000 in losses to debit card customers and financial institutions since November 2010.
Police allege that the suspects installed skimming devices on ATMs, video recording devices to gain access to PINs and counter-surveillance to make sure the fraud was not discovered.
"Investigators have determined the majority of the fraudulent withdrawals were made from bank machines inside the United States, which provided the accused parties with U.S. currency," said Police Chief Gary Crowell at a media announcement.
The investigators did not disclose which banks were targeted.
