Debit and credit cards were ordered after a gang gained personal information of customers banking with Barclays, the Daily Mail reported.
But the bank was able to stop much of the fraud and according to the newspaper stopped £500,000 from being stolen.
A method called 'account takeover' was used by the gang, according to Dc Keith Harrington.
They found enough information to fool the bank into thinking they were the customer and then they ordered bank cards.
A victim discovered the gang had spent £60,000 of his money by transferring it from a mortgage reserve account.
The news follows reports that bankers could be drafted into national police anti-fraud squads to try and crackdown on financial crime.
Mike Bowron, city of London Police Commissioner, told the Financial Times that he was keen for companies to get involved in the fight against fraud.