Toronto police recently revealed that over half a million dollars were fraudulently taken from hundreds of individuals in the city through a sophisticated taxi scam operation. The investigation, known as Project Fare, led to the arrest of 11 suspects who were involved in the scheme.

According to Det. David Coffey, the suspects posed as taxi drivers and manipulated customers into paying for their rides using credit or debit cards. During the transaction, the fraudsters would discreetly swap the victim's card with a similar-looking one and obtain the victim's PIN. This information was then used to withdraw funds from ATMs, deposit fake checks, and make high-value purchases.

The suspects are now facing a total of 108 charges related to the scam. The investigation began in July 2024 after receiving multiple reports from victims, with over 300 individuals identified as targets of the fraud. The perpetrators managed to defraud victims of more than $500,000, with some losing thousands of dollars before realizing they had been scammed.

During the probe, police executed three search warrants on May 21, seizing various items such as credit and debit terminals, luxury clothing and jewelry, electronics, and multiple cards. While two suspects are still at large, authorities are seeking a female who may have information about one of the suspects.

Coffey emphasized that this investigation does not reflect negatively on the legitimate taxi industry, as the scammers deliberately deceived victims by posing as licensed taxi drivers. He advised the public to be cautious when hailing cabs, especially in areas frequented by tourists, and to trust their instincts if something seems suspicious.