18/09/19 09:32 UTC-4

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

OtherCriminals laundered millions of dollars through cryptocurrencies
Criminals laundered millions of dollars through cryptocurrencies

Australian law enforcement revealed another group of scammers. They faked the personal data of citizens, stole money from pension and tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
accounts, and laundered the loot using cryptocurrencies.


Australia has revealed a multi-million dollar money laundering scheme

The Australian Securities and Investments Commission reports that a hearing was held on September 17 in the case of a 21-year-old citizen of the country. Law enforcement officials 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 personal data of citizens on the darknet, forged their SIM cards and mailboxes in orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
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, attackers bought up hard-to-track assets abroad like jewels. They sold these assets for cryptocurrency, which is why they were returned back to Australia.

Interesting in the section: Financial geography: cryptocurrency in 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. Security officials are sure that they are involved in the cryptocurrency scam  


See also: "$500 billion in assets: Wells Fargo financial giant is testing a crypto-dollar"

#Cryptocurrency #Australia #Moneylaundering #Scam #Cryptocrime

Editor: Alyona Nabok