UK police are questioning 21 people in connection with the theft of £2m from personal bank accounts and a number of financial institutions, according to a report by the BBC.
More than 200 Strathclyde police officers were involved in raids targeting suspects in the Glasgow area this morning.
The investigation into the thefts began several months ago, leading to evidence that confidential details had been used illegally. According to the report, personal banking security details had been accessed, leading to ID theft and fraudulent credit and loan requests and fund transfers.
The head of Strathclyde CID, detective chief superintendent Ruaraidh Nicolson, told the BBC that almost £2m was obtained and many members of the public saw money disappear from their bank accounts.
The names of the financial firms targeted were not disclosed.
News of the raids comes on the same day that a survey published by Which? magazine shows that a quarter of adults in Britain have had their identity stolen or know someone who has been the victim of ID fraud.