『Australia,澳大利亚』 4 scammer, anti-scam, money-laundering 2024.1.17-4.28

Scam losses decline, but more work to do as Australians lose $2.7 billion

The National Anti-Scam Centre’s collaborative efforts across government, law enforcement, consumer organisations and industry have boosted the community’s fight against financial crime, as the latest Targeting Scams report reveals a 13.1 per cent decline in reported losses to $2.74 billion in 2023.

The report compiles data reported to Scamwatch, ReportCyber, the Australian Financial Crimes Exchange (AFCX), IDCARE and ASIC.

It shows that Australians made over 601,000 scam reports to these organisations in 2023, an 18.5 per cent increase on 2022. In terms of financial losses, investment scams continued to cause the most harm ($1.3 billion), followed by remote access scams ($256 million) and romance scams ($201.1 million). With scam activity on the rise globally in recent years, the report highlights the impact of targeted and coordinated disruption activities across government, industry, law enforcement and community organisations, leading to lower overall financial losses.

“It is encouraging to see signs that our coordinated scam prevention, detection and disruption initiatives can stem the flow of funds to criminals and protect consumers,” ACCC Deputy Chair Catriona Lowe said.

“We are optimistic that our combined efforts will continue to reduce scam losses. We will continue this important work because losses remain too high and behind the numbers are real people who have lost money, often every last cent, to scams.”

“That’s why we remain committed to ensuring there are no weak links for scammers to exploit. A Scams Code Framework with strong, mandatory and enforceable obligations on banks, telcos and digital platforms will be central to this,” Ms Lowe said.

“Good data and intel sharing is also key and we will be adding to the number of parties sending data into the National Anti-Scams Centre having made good progress on sending data out.”

https://www.accc.gov.au/media-release/scam-losses-decline-but-more-work-to-do-as-australians-lose-27-billion
https://www.accc.gov.au/about-us/publications/serial-publications/targeting-scams-reports-on-scams-activity/targeting-scams-report-of-the-accc-on-scams-activity-2023
https://www.accc.gov.au/system/files/targeting-scams-report-activity-2023.pdf

(AFP-The Australian Federal Police News Centre)
Suspected criminal operation accused of laundering $1 billion
This is a joint media release between the Australian Federal Police and the Australian Taxation Office as part of the Serious Financial Crime Taskforce

The AFP has seized $500,000 as part of an investigation into a Sydney-based cheque cashing entity suspected of laundering more than $1 billion to facilitate tax fraud.

It is suspected this operation was used by businesses from a range of industries to help them evade their tax obligations and commit tax fraud.

The suspected criminal operation received business funds in electronic or cheque form and purported to provide goods and services in return, evidenced by fraudulent invoices. The participating business then received their funds back as cash, minus a commission. This is commonly known as a false invoicing arrangement, which is a key focus area for the SFCT.

Authorities executed search warrants at seven residential and business properties on Friday April 5, 2024 in the Sydney suburbs of Liverpool, Beverly Hills, Kingsgrove, Cabramatta and Earlwood as part of the joint investigation.

During the searches, officers seized more than $500,000 cash, financial documents, electronic devices, and mobile phones which will undergo further analysis.

A gel blaster firearm and fireworks were also seized.

A man, 55, was arrested and charged with a breach of bail for an unrelated offence and was formally refused bail at Bankstown Local Court on Friday, April 5, 2024. He will next appear in court on 31 May, 2024.

Complementing AFP action, the ATO made Access Without Notice (AWON) visits across five sites in NSW and Victoria.

AFP Detective Acting Superintendent James Rowe said financial crime and tax fraud robbed Australians of money which could be used to benefit their communities.

“The AFP works closely with the ATO to ensure people who cheat the tax system or enable others to avoid their obligations are not rewarded for their conduct,” he said.

“Our investigative team – which is made up of highly skilled investigators, forensic accountants and technical experts – work diligently to ensure that anyone responsible for financial crime is brought to justice.

ATO Deputy Commissioner and SFCT Chief John Ford said: “The action taken last week demonstrates that we will identify and act against individuals and businesses engaging with false invoicing arrangements to avoid their tax and super obligations.”

“The SFCT is warning businesses against using these types of arrangements. We will effectively deal with those who engage in false invoicing, or other illegal financial arrangements and work with partner agencies where appropriate,” Mr Ford said.

“We encourage those involved in false invoicing arrangements to come forward and make a voluntary disclosure.”

Investigations are continuing.

—

Cash seized as police claim suspected criminal operation laundered $1 billion

Police have seized more than half a million dollars in cash as they investigate what’s suspected to be a billion-dollar money-laundering scheme.

Investigators from the multi-agency Serious Financial Crime Taskforce claim a Sydney-based cheque-cashing business has washed more than $1 billion to help businesses in a range of industries commit tax fraud.

So far, only one man, a 55-year-old, has been arrested, and charged with breaching bail for an unrelated offence but the Australian Federal Police says investigations continue.

Australian Federal Police Assistant Commissioner Kristy Schofield claimed the criminal operation took money from about 1200 businesses and issued fraudulent invoices for pretended goods and services.

“The participating business, then received their funds back as cash minus a commission. This is commonly known as false invoicing arrangement,” she said.

They raided seven homes and businesses across Sydney on Friday and seized more than $500,000 in cash, financial documents, electronic devices, mobile phones, a gel blaster firearm and fireworks.

The Australian Tax Office also made searches at five sites without notice in NSW and Victoria.

AFP Detective Acting Superintendent James Rowe said tax fraud and financial crime robbed Australians of money that could help communities.

“The AFP works closely with the ATO to ensure people who cheat the tax system or enable others to avoid their obligations are not rewarded for their conduct,” he said, in a statement.

ATO Deputy Commissioner John Ford said the operation showed it would act against people running false invoicing schemes to avoid tax and super payments.

“The SFCT is warning businesses against using these types of arrangements. We will effectively deal with those who engage in false invoicing, or other illegal financial arrangements and work with partner agencies where appropriate,” Ford said.

The 55-year-old man faced Bankstown Local Court on Friday and will return to court on May 31.

The AFP believes billions of dollars are laundered in Australia every year.

The unrelated Plutus Payroll fraud siphoned off $105 million of funds destined for the tax office.

An alleged criminal syndicate smashed last year was accused of laundering almost $229 million in the proceeds of crime over three years.

That was described as the most complex AFP-led money laundering investigation in Australian history.

ASIC seeks orders to wind up Prospero Markets Pty Ltd

ASIC has applied to the Federal Court to wind up retail OTC derivative issuer Prospero Markets Pty Ltd (Prospero) on just and equitable grounds.

ASIC commenced its investigation into Prospero following the Australian Federal Police’s Operation Avarus-Nightwolf which resulted in former officers and responsible managers of Prospero being charged with money-laundering offences in October 2023 relating to the Changjiang Currency Exchange money remitting chain.

ASIC holds a broad range of concerns regarding the management of Prospero’s business, including in relation to compliance with its Australian Financial Services (AFS) Licence conditions and obligations as an OTC derivatives issuer under the Corporations Act.

Prospero’s AFS Licence was suspended in December 2023 (23-352MR), after Prospero failed to lodge its 2023 audited financial accounts.

ASIC understands that Prospero holds substantial client funds and is concerned to see these returned to clients as a priority. ASIC considers that the best way to secure the efficient return of funds to clients is the appointment of liquidators.

ASIC has applied for the Court to appoint Andrew Cummins, Jonathon Keenan and Peter Krejci, of BRI Ferrier, as joint and several liquidators of Prospero.

The matter is listed for a hearing in the Federal Court on 20 March 2024.

Background

Prospero holds AFS Licence, number 423034, which authorised it to provide the following services to retail and wholesale clients:
issue and make a market in derivatives and foreign exchange contracts,
deal in derivatives and foreign exchange contracts on behalf of clients, and
provide financial product advice in relation to derivatives and foreign exchange contracts.

ASIC has received enquiries from clients who are concerned about return of their funds. If liquidators are appointed, ASIC will be seeking to make available to them the information obtained by ASIC during the course of its investigation, including in relation to funds held in client money accounts, to facilitate to the extent possible the expeditious return of client funds.

Alleged SMS scammer Xuan Su accused of sending 17million texts pretending to be from Australia Post and Linkt
PUBLISHED: 05:53 GMT, 17 January 2024

A man who allegedly sent millions of scam text messages within seven days has also been accused of using passport and driver’s licence details to commit fraud as he faced court for the first time.

Xuan Su, 39, is allegedly responsible for sending 17.5 million text messages pretending to be from Australia Post and toll company Linkt over one week in early December through an SMS phishing scam run from his home in south-west Sydney.

These scams typically involve using devices called SMS boxes to send out bulk messages directing people to websites using fraudulent links.

Su was flanked by supporters, including his wife and their young child when he appeared in Liverpool Local Court on Wednesday for a brief hearing.

Su was hit with a fresh charge, accused of using driver’s licences, passports and other personal documents to commit fraud between September 2022 and December 2023 in Hurstville, according to documents filed with the court.

The new charge carries a maximum penalty of 10 years behind bars.

Su wore a face mask and carried young child in his arms used as a shield to hide his face while fleeing the media pack when he left court.

He offered no comment to reporters’ questions while a woman understood to be Su’s wife also ordered the media to ‘stop filming my daughter’.

Su was arrested on December 12 when cybercrime officers executed a search warrant at a Moorebank home.

Police seized two SIM boxes, a number of SIM cards and electronics allegedly consistent with running a fraudulent text message scam.

SIM boxes can hold over 250 active SIM cards and can send out up to 150,000 messages daily.

Su is yet to enter pleas to one charge of using equipment connected to a network to commit a serious offence and another charge of using identity information to commit an indictable offence.

Su’s lawyer David Downey asked the court for a two week adjournment to enter pleas.

The Commonwealth Director of Public Prosecutions then requested additional time to serve their brief of evidence,, which was granted.

It remains unclear as to whether Zu plans to fight the two charges when the matter returns to Campbelltown Local Court on April 10.

‘I need to take further instruction from my client,’ Mr Downey told reporters.

He added nor he or his client wished to make any further comment.

Su remains out on bail.