Police in Quebec are raiding more than 60 locations in connection with an international fraud ring involving credit and debit cards.
The RCMP say 61 arrest warrants have been issued on charges including gangsterism, manufacturing of forged cards, fraud and identity theft.
"The potential dollar value of this fraud is estimated at close to $100 million," said Const. Erique Gasse.
Those details were released in a short news briefing by the RCMP in Montreal on Wednesday morning.
Another news conference is scheduled for 10:30 a.m. ET for further details.
Locations in the greater Montreal area and Ontario were targeted, with about 250 officers involved in the operation.
Gasse said the wave of arrests comes in the wake of a major takedown in November 2010.
