12 stories this week:
Charges laid after nearly $180,000 obtained through email scam – Cybercrime Squad – 3 September 2021
Cybercrime Squad detectives have charged a woman after nearly $180,000 was allegedly netted through a business email compromise scam.
ASIC enforcers dish out warning to banks – 3 September 2021
Australian Securities and Investments Commission (ASIC) deputy chairman Sarah Court said speedier investigations and enforceable undertakings would also be a priority as the regulator pressed the reset button on its “why not litigate” strategy.
Westpac warns about ‘sophisticated’ scams impacting under 30s – 4 September 2021
New research reveals that more than 1.2 million Australians have been scammed in the past 12 months, with people under 30 twice as likely to have been targeted during Covid-19. The most common scams are investment scams (180 per cent increase), while remote access scams are up by 370 per cent on what they were in 2020.
Sports Flick founder under NSW Police investigation – 6 September 2021
Dylan Azzopardi, a Western Sydney man behind a now-defunct sports streaming start-up that offered $US60 million for the UEFA Champions League, is under investigation by NSW Police over allegations of fraud. It is alleged that Mr Azzopardi used $2.5 million provided to him for personal use, rather than to pay the company handling the international rights for the Rugby League World Cup.
(Access to digital version of SMH required to read article.)
Mortgage brokers warned about financial crime as AUSTRAC ups risk level to ‘high’ – 6 September 2021
AUSTRAC, has urged brokers to be on guard as it rates the nation’s risk level as ‘high’ in its latest report. Their report specifically mentioned the role of mortgage brokers in fraud, and cited hundreds of loans placed with major banks and lenders, that they had identified as being fraudulent and involved with money laundering. https://www.brokernews.com.au/news/breaking-news/mortgage-brokers-warned-about-financial-crime-as-austrac-ups-risk-level-to-high-278622.aspx
https://www.theadviser.com.au/breaking-news/41988-austrac-flags-broker-fraud-among-banking-risks
Federal court says BitConnect promoter guilty of fraud charges – 6 September 2021
Glenn Arcaro, the former director, and promoter of crypto exchange Bitconnect has been found guilty by the federal court of fraud and for funnelling more than $2 billion from investors.
https://micky.com.au/federal-court-says-bitconnect-promoter-guilty-of-fraud-charges/
Cybercrime on the Rise and a Booming Housing Market – 6 September 2021
An informative article on Cybercrime that provides detail on the most common forms of cybercrime and who they should be reported to. The cost to the Australian community is measured conservatory at over $ 3.5 billion dollars a year, according to a report commissioned by the Australian Institute of Criminology.
https://www.lexology.com/library/detail.aspx?g=b6a50da5-4a81-4f90-b9ab-8a1ab8dbbf93
Flubot scammers warn ‘last chance’ for fake parcel delivery – 7 September 2021
Australia’s scam watchdog has warned that the malicious “Flubot” scam has updated its fake text messages, in a bid to get access to your personal phone information. Flubot is a form of software known as malware that has the potential to immediately access a user’s passwords and financial information.
New Australian surveillance laws give police powers to alter Facebook and Twitter posts – 7 September 2021
A new law gives Australian police unprecedented powers for online surveillance, data interception and altering data. These powers, outlined in the Surveillance Legislation Amendment (Identify and Disrupt) Bill, raise concerns over potential misuse, privacy and security.
Scamwatch: Vaccine passport scams – what to look out for – 8 September 2021
The Australian Community Media has provided a comprehensive list of current scams identified on sites such as scamwatch.gov.au, www.cyber.gov.au and the Australian Competition and Consumer Commission’s website, dedicated to informing people about fraudulent and dishonest activities.
Bitcoin trader kicked out of 90 banks over cryptocurrency concerns – 8 September 2021
A bitcoin trader says she is running out of options after being booted from 90 banks across Australia. Buying and selling cryptocurrencies such as bitcoin could see you have your bank account shut down, a parliament inquiry has heard. The situation was causing the company to move to offshore banking due to being ‘debanked’.
Police Issue Warning Over Fake AFP Phone Scam – 9 September 2021
The Australian Federal Police (AFP) is warning community members about a scam involving fake police representatives, attempting to con money from the public. They tell victims they have identified suspicious activity linked to their bank accounts and request personal details.
https://www.newsofthearea.com.au/police-issue-warning-over-fake-afp-phone-scam-77908
