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Investigation & Fraud News – Week ending 17 January 2025
Five tips to achieve physical security as Australasia racks up $26 billion investment in data centre capacity – 13 January 2025
Paper describes five tips on how to achieve protection and peace of mind, drawing on our experience as a global leader in architectural and security entrances, operating with scores of Fortune 500 companies, major government agencies, and some of the biggest technology providers across more than 20 countries.
Qld Health worker accused of $180k fraud – 13 January 2025
A Queensland Health employee has been suspended from duties after being accused of money laundering at a southside health centre where she allegedly defrauded more than $180,000.
Access to Courier Mail required to read article
New Report Identifies Cyber Threats to Operational Technology Products – 14 January 2025
According to the Australian Cyber Security Centre (ACSC), threat actors are successfully targeting particular operational technology products rather than specific organisations when compromising operational technology components. To help reduce the potential damage from these types of attacks, the ACSC has released a new report “Secure by Demand: Priority Considerations for Operational Technology Owners and Operators When Selecting Digital Products”. Link to the report is in the article
Written warning becomes dismissal after employee’s investigation emails – 14 January 2025
The Fair Work Commission (FWC) recently dealt with an unfair dismissal claim where a worker argued he was wrongfully terminated after a workplace vehicle collision. The worker maintained he wasn’t at fault for the accident and that the employer’s investigation process was flawed. The article outlines the case details and final outcome.
Government bolsters scam education to deter fraudsters – 14 January 2025
The government has announced the rollout of another scam campaign aimed at decreasing scam losses and establishing actionable and effective strategies. The campaign includes both TV and social media advert and would equip Australians with simple, actionable strategies to guard against scams.
Four month trial for alleged bank fraudster – 14 January 2025
Sara Daizli is facing 116 fraud charges after allegedly scamming her customers to fund her lavish lifestyle. She allegedly used her role at the bank to transfer customers’ funds into fake accounts and to fake customers between February 2016 and December 2018. One of the main alleged victims is a woman in her 80s who had thousands of dollars transferred out of her account through internet banking, which she had never used.
Banks should be liable for scams, social media firms say – 15 January 2025
Technology companies say they should not be made to compensate victims of scams on their social media platforms, and have pointed the finger at banks in a submission to a parliamentary committee examining the government’s proposed Scams Prevention Framework. The proposed reforms would impose fines of up to $50 million on banks, mobile networks, and social media companies which fail to act on preventing scams
https://ia.acs.org.au/article/2025/banks-should-be-liable-for-scams–social-media-firms-say.html
Scam Prevention Framework Consultation Closes – 15 January 2025
The Scams Prevention Framework (SPF) Bill 2024 (the Bill) has been referred to the Senate Standing Committee on Economics (the Committee) whose report is due to back to the Senate 3 February 2025. The Bill encapsulates a novel, multi-faceted and comprehensive principles-based approach to harden Australia as a target for scammers. The Committee opened a consultation period for written submissions on the Bill which closed 9 January 2025.
https://www.ashurst.com/en/insights/scam-prevention-framework-consultation-closes/
This Aussie tried to sue a scammer. Then things went horribly wrong – 15 January 2025
An Aussie woman who lost $200,000 to scammers, fell for a fake cryptocurrency trading platform called IBC Exchange, took matters into her own hands, tracking down the money mule and then tried to sue him. The process backfired, leaving her even more destitute.
Scammed company Inoteq ordered to pay $190k to Mobius Group after paying fraudulent invoice – 16 January 2025
Company Inoteq Pty Ltd has been ordered to pay more than $190,000 to Mobius Group after paying a fraudulent invoice. Hackers used the email of Mobius’s director to send the invoice with new bank details and the court found Inoteq didn’t do enough to protect itself. Lawyers say the effects of the case are likely to be felt across the country.
Fake ‘crime squad’ duped elderly Australians in letterbox scam – 16 January 2025
A man falsely claiming to be from PayPal’s fraud department, convinced an elderly woman to place $5000 in cash in her letterbox. The fraudster claimed that bank details had been hacked and cards had to be put in an envelope and placed in the victims’ letterboxes to be collected by security officials and locked down to prevent funds from being stolen.
Apple and Google take down crypto apps from alleged $24 billion cyberscam market owner – 16 January 2025
Apple and Google have delisted apps developed by a Cambodian company Huione Group, which is accused of running a multi-billion dollar market for illicit fraud services on Telegram. As much as $24 billion in sales had gone through the platform, making it “the largest illicit online marketplace to have ever operated.
Victorian ‘whistleblower’ prosecuted after leaking information from Lawyer X investigation office – 17 January 2025
A public servant who leaked details about an investigation into Victoria’s Lawyer X scandal has been taken to court. It came after the state’s integrity watchdog launched a probe to find out who was behind the source of leaks to the Herald Sun. The public servant was granted a diversion, meaning they will not receive a conviction or a blemish on their criminal record if they are of good behaviour for the next six months
Investigation & Fraud News – Week ending 10 January 2025
Owner of Ladbrokes and Neds sued for alleged anti-money laundering failure – 17 December 2024
Entain Group, the owner of Ladbrokes and Neds, has been accused by the financial crimes regulator of not doing enough to prevent money laundering on their products. AUSTRAC alleges Entain did not develop and maintain a compliant anti-money laundering program and failed to identify and assess the risks it faced. The matter is now before the Federal Court.
Major ATO, Centrelink, superannuation warning issued for Aussies for 2025: ‘Unprecedented rise’ – 25 December 2024
Thousands of Aussies reported being fleeced more than $584 million, with the average person losing $35,400. IDCARE, the national support centre for victims of identity theft, has identified the top six emerging scam trends to watch out for in 2025.
Australian Commission Places Hillsong College on Probation Due to Compliance Concerns – 26 December 2024
Investigations into Hillsong Church and its ministries was prompted by bombshell allegations against the church. These allegations, which became public in 2023, accused the church of mass money laundering, tax evasion, and fraud. The Australian Charities and Not-for-profits Commission found the school had issues with reporting; financial and operational record keeping; governance standards; and its overseas records and financial management.
Big Four Banks using advanced tech to protect customers against financial crime and fraud – 27 December 2024
The ongoing use of advanced technologies is proving crucial in the fight against financial crime, with the Big Four banks making strides in protecting customers and closing loopholes used by fraudsters. More toxic workplace claims may face Super Retail Group Ltd with up to 10 whistleblowers potentially having a case against the group — the operator of Supercheap Auto, Rebel, Macpac and BCF. This adds to the 21 witnesses who are prepared to testify. The trial regarding the toxic workplace allegations is scheduled for mid-2025 and is expected to span six weeks.
Does tracking your employees actually make them more productive? – 27 December 2024
Companies have powerful new tools to track employees and monitor their productivity in detail, raising obvious concerns. This article explains the pros and cons of tracking employees.
https://thesector.com.au/2024/12/27/does-tracking-your-employees-actually-make-them-more-productive/
Gold Coast couple loses $250,000 house deposit in ‘spear phishing’ scam – 28 December 2024
The Robinsons were likely victims of what’s called a “spear phishing” attack — a personalised impersonation scam where scammers gain access to emails or text messages and impersonate someone, to make their victims believe they are communicating with people they know and trust. They lost $252, 0000 during the purchase of a property.
https://www.abc.net.au/news/2024-12-28/couple-loses-more-than-250000-to-house-deposit-scam/104730344
Australia’s Four Major Banks Take Action Against Thousands of Suspected Mule Accounts – 29 December 2024
Australia’s “Big Four” banks are doubling down on the fight against financial crime, deploying cutting-edge technology to detect and dismantle networks of mule accounts. One key tool in this effort is BioCatch, an “interbank, behavior- and device-based fraud and scams intelligence-sharing network,” which revealed its list of Australian bank users last month. The ongoing use of advanced technologies is proving crucial in the fight against financial crime, with the Big Four banks making strides in protecting customers and closing loopholes used by fraudsters.
New transparency law aims to deter multinational tax avoidance – 31 December 2024
In the final sitting week of parliament in 2024, the Albanese government managed to pass one of the world’s strictest tax disclosure laws for multinational companies. Known as public country-by-country reporting (CBCR), it will be able to determine if genuine business operations align with where profits are booked, and taxes are paid. It will basically out the multinational corporations that fail to meet their corporate tax obligations, by shifting profits to once notorious tax haven jurisdictions.
Adelaide baseball club on brink of collapse after scammers steal $22,000 – 2 January 2025
A baseball club in Adelaide’s Eastern Suburbs is on the brink of collapse after it was scammed out of tens of thousands of dollars. A volunteer allowed remote access to his computer, unknowingly granting the scammer control. The scammers then siphoned $22,000 from the club’s bank account and even drained the volunteer’s personal savings.
https://www.9news.com.au/national/adelaide-baseball-club-scam/dcaa6a45-a1e0-44b1-baa2-14cc286003b0
How Young Australians are being scammed by their trust in social media – 3 January 2025
Reports show that Generation Z and Millennials lose millions every year to scammers lurking on social media. The scams range from ‘too good to be true’ marketplace deals to dodgy influencers promising wealth, health, or eternal happiness for the price of a few clicks. In 2023 alone, Australians under 25 reported over $5 million in losses, and that’s just what people were willing to admit.
Bet365 awaits AUSTRAC investigation, results up for 23/24 financial year – 7 January 2025
Britain’s bet365 says that it still doesn’t know the outcome of the Australian financial watchdog’s investigation into potential breaches of the country’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. Authorities required the external auditor after suspecting that the company had contravened legislation regarding customer due diligence and AML programming.
Investigation into Met Police’s handling of some Mohamed al Fayed allegations – 8 January 2025
An investigation has been launched into whether there were “any missed opportunities or failures” in the Metropolitan Police’s handling of some allegations against Mohamed Al Fayed. Al Fayed has been accused of widespread abuse of female staff while he owned the Harrods department store.
https://news.sky.com/story/investigation-into-mets-handling-of-some-al-fayed-allegations-13285371
Four Greek men face drug trafficking charges in Australia: $34 million meth bust under investigation – 9 January 2025
Significant public and media interest surrounds the case of four Greek men accused of trafficking methamphetamine worth $34 million into Australia. The defendants are scheduled to appear in court on February 20, as Australian authorities continue their investigation into this high-profile drug bust.
Former Chapel St club boss left short by US dirty-money prob – 10 January 2025
The one-time boss of a Chapel St nightclub has had a second business put into liquidation amid tens of thousands of dollars in unpaid debts and a money laundering investigation in the US.
Access to digital version of Herald sun required to read article
How to fight financial crime in a bold new era of risk – 10 January 2025
In today’s rapidly evolving world, where revolutionary technologies and global connectivity are transforming financial systems, the fight against financial crime is now pivotal to growth and success. Business needs to prioritize robust compliance measures, foster a culture of integrity and harness technology specifically tailored to mitigate today’s growing risk landscape. This article explores six prominent trends expected to shift the model of disrupting financial crime compliance over the next five to 10 years and the key actions organisations can take to better combat financial crime.
https://kpmg.com/th/en/home/insights/2025/01/a-paradigm-shift-in-financial-crime.html
Investigation & Fraud News – Week ending 20 December 2024
‘Bogus’: Thousands of job ad scams and $24.4 million in losses prompts Aussie warning – 11 December 2024
In the first three months of the job scam fusion cell launched in September, the National Anti-Scam Centre (NASC) has taken down 200 job scam websites. Another 200 phone numbers were flagged, as law enforcement, government agencies, and cryptocurrency platforms work with NASC to freeze or restrict cryptocurrency wallets being used in job scams. Now, Aussies have been given a fresh warning — and informed about the links between these types of scams, and social media.
Ex-credit union head Lyndon Allen Kingston jailed for financial crimes – 12 December 2024
Former credit union chief executive and banking watchdog senior manager, Lyndon Allen Kingston has been sentenced to 18 months in prison for financial crimes committed six years ago. A jury found him guilty of unlawfully pocketing payments from two credit union contractors, without knowledge of the board. The court ordered Kingston be released from prison after six months, pending good behaviour for the remaining 12 months of his sentence.
Queensland company AGAT Business put into voluntary liquidation amid ASIC investigation – 13 December 2024
A Queensland call centre, currently under investigation by ASIC, has been put into voluntary liquidation. Customers had alleged AGAT sales representatives phoned them offering to check their current super arrangements for free, before referring them to financial advisers. Some of those financial advisers then recommended customers move their super to a troubled investment scheme called the Shield Master Fund.
Trio of serving ADF soldiers arrested on multiple charges after police investigation intercepted mail containing cash – 13 December 2024
Three serving Australian soldiers have been arrested over their alleged involvement in a drug trafficking syndicate. As part of the investigation, officers intercepted mail and seized cash. QPS alleges the money was intended to buy drugs that would then be resold for profit.
Aussie bank apps targeted by global cyber robbery – 14 December 2024
Cyber criminals have posed as recruiters offering unsuspecting Australians bogus lucrative jobs as part of a global theft of online banking details and other sensitive data.
Access to digital version of The Australian required to read article
Government confirms IBAC investigation into allegations of fraud at Melbourne hospitals – 15 December 2024
The government has confirmed Victoria’s anti-corruption watchdog is investigating allegations of fraud conducted by Melbourne surgeons. The Age reports surgeons have billed the Transport Accident Commission for medical procedures that were never carried out on patients. The health minister has welcomed the investigation, while the opposition has called on IBAC to release its findings.
https://www.abc.net.au/news/2024-12-15/ibac-surgery-tac-fraud-investigation/104727502
Ladbrokes owner took $152m from customers with ‘suspected criminal associations’, court documents claim – 16 December 2024
The Australian arm of Entain is part of one of the world’s largest sports gambling organisations. It is alleged that they accepted $152m in bets from 17 high-risk customers who had “suspected criminal profiles and associations” despite being aware they may have been laundering money.
Nigeria investigates nearly 800 suspects arrested in massive cybercrime raid – 17 December 2024
Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission, says it is investigating nearly 800 suspects arrested for alleged internet fraud during a massive raid in Lagos. The 792 suspects, including 193 foreigners, were nabbed December 10 in a seven-story building believed to be a “hustle kingdom” – a place where people are trained to carry out cybercrimes.
ACCC takes Optus to court over alleged unconscionable conduct at Mount Isa store – 19 December 2024
The Australian Competition and Consumer Commission is suing Optus over alleged unconscionable conduct. A statement of claim alleges its Mount Isa store preyed on vulnerable consumers, accumulating debt in excess of $150,000 for 42 individuals.
SA Health finds 18 staff have inappropriately accessed Charlie Stevens’ medical records – 20 December 2024
18 staff have been found to have inappropriately accessed the medical records of a patient. ABC News revealed in July that SA Health was investigating the alleged breach of a patient’s medical records, understood to be Charlie Stevens’, who died in November 2023 after a hit and run at Schoolies celebrations in Victor Harbor. An SA Health spokesperson says an additional employee is still under investigation.
https://www.abc.net.au/news/2024-12-20/sa-health-charlie-stevens-investigation/104576828
The lucrative scam business behind a non-existent Centrelink payment – 20 December 2024
Dodgy news websites might seem harmless, but they can have be a starting point for scammers to lure victims and obtain personal details. “Click farms” are scam sites, used to get numerous visits so the creators can make money from displaying advertisements on it. The creators use search engine optimisation (SEO) tactics to make sure their site is among the first websites displayed when people Google something. The article explains.
Investigation & Fraud News – Week ending 12 December 2024
Australians turned into money mules chasing crypto cash – 5 December 2024
Middle-aged Australians are being turned into “money mules” to convert cash raised by organised criminals into cryptocurrency, so it can be moved out of the country via a record number of specialist ATMs springing up around the nation. These Australians were often being persuaded by scammers to deposit cash into the machines, inadvertently becoming part of organised criminal networks that were using cryptocurrencies to launder profits. In some cases, they are losing their life savings.
NSW trio’s failed bank fraud ‘like trying to win lotto’ – 5 December 2024
A trio’s bungled attempts to scam $20 million from NAB through various schemes were said to be unsophisticated and ultimately doomed to fail. Monika Singh, 42, Davendar Deo, 68, and Srinivas Naidu Chamakuri, 51, were convicted of a myriad of fraud-related offences between 2018 and 2020 following a lengthy trial in the NSW District Court. They attempted to use internal bank vouchers to withdraw almost $16.9 million in cash.
MS One-Time Passwords no longer enough to fight Australia’s AI-driven fraud, says Visa – 8 December 2024
Visa, a world leader in digital payments, today announced it will require Australian financial institutions to move away from SMS One-Time Passwords (OTPs) as the sole factor for payment authentication to address the threat of AI-driven fraud and scams. In Australia last year, scam losses reached $2.7 billion with over 601,000 scam reports, and attacks.
Vietnamese property tycoon Truong My Lan must come up with $14 billion to avoid death penalty – 8 December 2024
Truong My Lan, a Vietnamese property tycoon is in a race for her life to come up with $US9 billion (A$14 billion) to escape the death penalty for masterminding the world’s biggest bank fraud. She was convicted earlier this year of swindling money from Saigon Commercial Bank (SCB) — the country’s fifth biggest lender — and sentenced to death for embezzling $US12.5 billion
AUSTRAC initiates crypto ATM crackdown – 9 December 2024
Australia’s financial intelligence and crimes investigation agency AUSTRAC has launched a targeted crackdown on cryptocurrency ATMs (CATMs). ATMs, or crypto kiosks, which are growing in number across Australia, enable individuals to purchase a variety of cryptocurrencies, including Bitcoin or Dogecoin, in cash, credit/debit cards or via their digital wallets.
https://financialnewswire.com.au/investment/austrac-initiates-crypto-atm-crackdown/
Apple’s all-seeing eye’: Worker alleges illegal surveillance of employees – 10 December 2024
‘Apple has been accused of the “systematic invasion of employee privacy” and the monetisation of the personal data of its workers in a lawsuit launched by an employee of the tech giant. It is alleged that the tech company is breaching the state’s laws by snooping on the personal and work devices of its workers.
$10m tax scandal lands 6 fraudsters with combined 43-year sentence – 10 December 2024
A 43-year combined prison sentence was served to six people in Operation Bordelon which uncovered a tax and money laundering scandal worth up to $10 million. It was found the syndicate siphoned off the money allocated for the pay-as-you-go withholding tax component instead of remitting it to the ATO. The syndicate members then moved the defrauded funds to companies they directed, relatives, associates and offshore accounts.
Police Officer Sent to Prison for Falsifying Evidence – 11 December 2024
A police officer has been sentenced to imprisonment for fabricating evidence against a woman during an investigation into drug offences. Former police detective Jye Symes pleaded guilty to one count of misconduct in public office after falsely claiming, DNA linked to a tenant suspected of being linked to the supply of prohibited drugs secreted in children’s toys and sent by post, was found on a pair of gloves at the property.
ASIC briefed government about Rex investigation before $80m lifeline – 11 December 2024
The corporate regulator warned the Albanese government it was investigating Regional Express for serious governance failures before the Commonwealth controversially committed $80 million into bailing out the collapsed airline. ASIC is taking Rex Airline and directors Sharp, Lim Kim Hai, Lincoln Pan and Siddharth Khotkar to the NSW Supreme Court over “serious governance failures”, alleging they misled the market in February 2023 about the health of the company’s finances.
