Sky News reports that Police investigating a multimillion pound banking fraud have arrested twelve people in a series of early morning raids in London and Bradford.
The operation, co-ordinated by the City of London Police, targeted fourteen properties, mainly in West London.
Most of those arrested are believed to be of Middle Eastern origin.
Police say the investigation centres on 200 false bank accounts, which are believed to have defrauded a number of high street banks of at least £3m.
Sky News understands detectives are investigating whether any of the proceeds from the fraud may have been channelled into terrorism.
All those arrested have been taken to a City of London police staion for questioning. Searches of the properties are ongoing.