August 9, 2020

Australians revealed a scheme for laundering money through a crypto for millions of dollars

Australians revealed a scheme for laundering money through a crypto for millions of dollars
Criminals laundered millions of dollars through cryptocurrencies

Australian law enforcement revealed another group of scammers. They faked personal data of citizens, stole money from pension and trading accounts, and laundered the loot using cryptocurrencies.

Australia unveils multi-million dollar money laundering scheme

Australian Securities and Exchange Commission andInvestments reports that a hearing was held on September 17 in the case of a 21-year-old citizen of the country. Law enforcers claim that she participated in a criminal gang that stole citizens' money and laundered it through cryptocurrencies.

According to the authorities, the group bought up personaldata of citizens on the darknet, forged their SIM cards and mailboxes to gain access to financial accounts. Using fake data, attackers opened bank accounts in the names of unsuspecting citizens. In total, security officials managed to find fake accounts in 70 Australian banks.

Further, the group stole money from pension and trading accounts of citizens and transferred money to fake bank accounts.

In order to launder stolen goods, intrudersbought up hard-to-track assets abroad like jewelry. They sold these assets for cryptocurrency, which is why they were returned back to Australia.

  • Australian law enforcement officers still collect data on the victims, and can not give the exact amount of damage. But, according to them, the attackers managed to steal "millions of dollars"
  • On September 16, law enforcement officers in the Philippines arrested 277 people. Siloviki are confident that they are involved in the cryptocurrency scam