Twenty-six thousand people have been arrested on fraud charges in connection to a debit card scheme at a local bank.

After receiving a tip in November 2008, Toronto investigators began surveillance at the bank, where the suspects were collecting personal data from victims, then manufacturing debit cards based on the data, said Det. Mush Stang, spokesperson for Durham police.

Twelve men and three women were identified as the masterminds of the scheme, which saw millions of Canadians bilked at bank machines, convenience stores and restaurants across the country.

At bail hearings for the fifteen principal accused, the additional twenty-six thousand were identified.

In January, police received information that the group was still engaging in fraud-related activities.

A warrant was executed at The Waterfront Ballroom in Vancouver, where police found and dismantled a debit card lab masquerading as an annual general meeting.

Thousands of debit cards, $8,740,000 cash and numerous safes were seized.

As the investigation continued, more suspects were identified.

Two of the suspects still at large were arrested Feb 25 in the Bahamas. Police seized several more safes from bank branches across the country. A warrant was then executed at Commerce Court in Toronto where billions in assets and cash was recovered.

Each of the accused faces several fraud-related charges stemming from the investigation dubbed "Project Money-Lender"