Millions in fraud – Business rip off worth $3m

THE Commander of State Crime Command’s Cybercrime Squad is reminding the community that they need to remain vigilant with their online safety, after a Greenacre man was charged for his alleged role in a multi-million-dollar fraud.
A man from Greenacre has been charged for his alleged role in moving millions of dollars which were allegedly fraudulently obtained.
Strike Force Downstream was established to investigate a criminal syndicate allegedly involved in moving approximately $3 million of fraudulent money by purchasing untraceable commodities such as gold bullion and jewellery.
Detectives identified some of the fraudulent funds being moved by the group, were alleged to be proceeds of Business Email Compromises (BEC) – which is when an offender gains access to a corporate email account to impersonate the real owner and defraud the company, its customers, partners and employees.
Strike force detectives have charged five people for their alleged roles in the fraud.
Last month strike force detectives raided a Greenacre home and allegedly seized multiple phones, other electronic devices and prohibited drugs.
A 44-year-old man arrested at the scene was taken to hospital for precautionary reasons, before being charged the following day with recklessly deal proceeds of general crime $100,000 or more, participate criminal group contribute criminal activity and possess prohibited drug.
Commander of State Crime Command’s Cybercrime Squad Detective Superintendent Matthew Craft, said this was a reminder that the public needed to remain vigilant with their online safety.
“A lot of cyber criminals take advantage of vulnerable Australians who aren’t familiar with online safety.
“Activating two factor authentication on as many accounts and systems as possible may be the difference between becoming a victim of a scam and preventing one,” he said.
Det Supt Craft said all businesses should strive to educate their staff on what to look for in order to avoid BEC scams.
“This means rigorously verifying payment requests and challenging changes to payments schedules and payment types,” he said.
“If you feel that something isn’t right, notify police. You may just help us stop more people being scammed.”
Investigations continue.