Police officers awarded Canadian Banks' Law Enforcement Award for fighting financial crimes

OTTAWA, ON, Aug. 24, 2021 /CNW/ - Dedicated police officers with York Regional Police (YRP) and the Sûreté du Québec (SQ) are being honoured today for their exceptional contributions to the investigation of crimes against banks in Canada, their customers and employees.

The Canadian Bankers Association presented two awards as part of the Canadian Banks' Law Enforcement Award (CBLEA): An Individual Award was presented to Detective Constable (DC) Rosa Sposato of the YRP for her successful investigation into a series of account takeovers and identity fraud-related offenses. A Group Award was presented to nine SQ officers for their efforts in thwarting the illicit activities of a cross-border organized crime network. The awards are being presented at the Canadian Association of Chiefs of Police virtual Annual Conference in Ottawa today.

"These awards are our way of recognizing and celebrating the investigative diligence of police officers and their collaboration with banks to protect Canadians against financial crimes," said Adrian White, Director of Financial Crimes, Canadian Bankers Association. "Banks work as a team with law enforcement, adopt leading techniques and remain ever vigilant to safeguard bank customers. We honour the 2020 CBLEA recipients for their bravery, dedication and professionalism."

About the Award Recipients

Organized Fraud Cases – Detective Constable Rosa Sposato, York Regional Police (Individual Award)

Between March 2019 and March 2020, an international organized crime group committed more than 200 frauds in York Region, throughout the Greater Toronto Area and across Canada, resulting in losses upwards of $8 million. The group compromised bank client and account information, including Home Equity Lines of Credit (HELOC), using fraudulent identification acquired through illicit sources on the dark web and via corrupt bank and provincial government employees, who have since been dismissed and convicted.

The situation was reported to York Regional Police, who launched "Project HELOC" with DC Rosa Sposato as the lead investigator. In coordination with financial institutions, DC Sposato provided real-time investigative intelligence and analysis, thereby enabling these institutions to stop fraud transactions from occurring and mitigate further loss. As a result of these collaborative efforts and active information sharing, multiple runners were identified, which led to the arrest of the main suspect and other key conspirators that comprised the brain trust orchestrating account takeovers and other fraud schemes. Further, this investigation also led to the discovery of other crimes being committed by the group, thereby leading to further arrests.

Organized Fraud Cases – Sûreté du Québec (Group Award)

Sergeant Samuel Brazeau

Sergeant Jean-François Fracheboud

Sergeant Audré Giordanengo

Sergeant Geneviève Guérin

Sergeant Nicolas Lavoie

Sergeant Valérie Poitras

Sergeant Érick Roy

Sergeant Simon Salois

Sergeant Catherine Soulières

Between May 2016 and July 2017, a cross-border criminal group was using counterfeit identification to impersonate legitimate clients of financial institutions. Close to 100 cases were uncovered across Québec and Ontario, with total combined losses of more than $1 million. Using information received from a federal government agency, the SQ determined that these criminals were acquiring holographic logos for Québec health cards with the intent to manufacture high-quality counterfeit identification and sell it on the dark web. This information led to the creation of Project OPTIQUE.

During the investigation, a team of officers at the SQ recovered user credentials linked to a site on the dark web, where personal information related to this investigation were located. The team obtained a judicial order to destroy the personal information of Canadian citizens to protect their identity and information, the first time such an order was issued in the Province of Québec. In close collaboration with financial crime investigators from major financial institutions, the SQ conducted hundreds of hours of exhaustive follow-up, search warrants were issued and upon seizure of a suspect's residence hundreds of identity theft kits were discovered and seized.

Through this collaborative effort between financial institutions and law enforcement, two active organized groups were investigated, arrested and the activities of associated groups were hindered. Most Importantly, the compromised profiles of thousands of citizens were identified and safeguarded. The information and insight gleaned through this investigation have been shared among the banking industry and with government entities to mitigate risk, while also protecting the integrity of our provincial and federal identification systems. 

About the Canadian Banks' Law Enforcement Award

Since its creation in 1972, 276 Canadian Banks' Law Enforcement Awards have been presented to officers for their outstanding bravery, dedication and other noteworthy achievements in combating crimes against Canada's banks. Award recipients are nominated by their peers, other law enforcement agencies and bank members across Canada. For additional information, please visit www.cba.ca/award

About the Canadian Bankers Association

The Canadian Bankers Association is the voice of more than 60 domestic and foreign banks that help drive Canada's economic growth and prosperity. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals. www.cba.ca

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SOURCE Canadian Bankers Association

Aaron Boles, [email protected], 647-274-8495