Detectives began an investigation in January last year into an alleged criminal syndicate targeting car finance companies under Strike Force Myddleton.

Police said the fraud and money laundering syndicate had used stolen personal information to apply for loans for luxury “ghost cars” which did not exist.

A 37-year-old woman was arrested at Day Street Police Station yesterday morning.

She was charged with 11 counts of dishonestly obtaining a financial advantage by deception and participating in a criminal group contributing to criminal activity.

She was granted conditional bail to appear before Downing Centre Local Court on October 29.

Police will allege in court the woman used false documents to obtain a number of fraudulent loans totalling $13 million.

Thirteen people have previously been charged and remain before the courts.

The NSW Crime Commission has restrained $60 million in assets.

Police said an ongoing investigation discovered the syndicate’s alleged operations extended beyond car finance fraud to “large-scale personal business and home loan fraud” targeting multiple financial institutions.