The man was arrested in Sydney’s Green Square Library on Wednesday morning following a cross-border cybercrime investigation involving detectives from NSW and South Australia.
NSW Police said the man stole the personal information of more than 80 people and used it to modify payroll data, superannuation details and credit card records.
Detectives seized computers, phones, liquid steroids and cryptocurrency during searches of two homes in Sydney’s inner west.
A 32-year-old man and a 28-year-old woman have been arrested in Adelaide in connection with the scam.
NSW Police cybercrime commander Detective Superintendent Matthew Craft said the fraud was sophisticated and calculated.
“Detectives from NSW and South Australia have been working tirelessly to disrupt the criminal activities of this individual,” he said.
“During the course of the investigation, more than 80 individual personal and financial profiles have been identified as being obtained for the purpose of committing fraud.”
The 31-year-old has been charged with 24 offences and is due to front Newtown Local Court today.