Police allege the man used fake credit cards to buy goods under the instruction of a Homebush Bay man, 53.

Police security strike teams arrested the two men, and four other men and one woman, all from Melbourne, as part of 11 search warrants issued yesterday.

They allege the Homebush Bay man produced more than 200 fake credit cards per week, and instructed members of the syndicate to purchase a collective 500,000 in goods each week.

They were charged with a fraud-related offences including dishonestly dealing in financial information, dealing in the proceeds of crime, participation in a criminal group, making or using a false instrument and conspiracy to cheat and defraud financial institutions.