City of London police have arrested 13 people - including a bank employee - suspected of carrying out a multi-million pound banking fraud.
According to press reports, the eight men and five women are suspected of opening bank accounts in false names using counterfeit documents and then running them into debt.
The City of London Police's Economic Crime Department says the estimated loss to clearing banks and financial institutions as a result of the alleged fraud is thought to be in the region of £3m.
The gang were arrested during morning raids at addresses in west London, Slough and Bradford. Officers reportedly seized various items of property during the searches, including two cars and banking documents.
In January City of London Police charged a former Lloyds TSB employee with corruption and theft after he allegedly helped criminal gangs set up fraudulent bank accounts.