Police have shut down an account-take-over fraud syndicate, arresting two men and a woman. They are believed to be the group's mastermind and core members.

In February, some local banks told Police some suspicious credit-card applications were found. Officers found the suspected cross-boundary identity fraud syndicate applied for credit cards with stolen personal data. The syndicate then used the credit cards to purchase luxury goods and apply for cash advances.

Officers arrested two men, aged 34 and 35, and a 23-year-old woman in Tsuen Wan yesterday and seized $200,000, three notebook computers, one scanner, one printer, six credit cards relating to others, six identity documents relating to others, and a small quantity of drugs and drug-taking tools.

It is believed more than 100 people have been victimised and the estimated loss is over $1 million. The three arrested people are being detained for investigation.