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Investigation & Fraud News – Week ending 14 March 2025
Melbourne fraudster sentenced for swindling $35,000 via cyber scam – 7 March 2025
A Melbourne man charged as part of an international police takedown of a cybercrime platform has been ordered to pay $34,990 compensation for fraud-related offences. The man was a user of LabHost, a now defunct cybercrime platform allegedly marketed as a ‘one-stop-shop’ for phishing, which was brought down in April, 2024. The LabHost platform enabled cybercriminals to fraudulently replicate more than 170 websites of reputable banks, government entities and other major organisations, to trick unsuspecting victims into believing they were legitimate.
Police launch investigation into Pastoralists and Graziers Association as it prepares to exit voluntary administration – 7 March 2025
The Pastoralists and Graziers Association says allegations of financial misconduct within the organisation are being investigated by police.
It comes as the prominent agricultural lobby group prepares to exit voluntary administration after creditors approved a rescue package at a meeting in Perth.
Businesses ill-equiped to deal with rising threat of deepfake scams – 7 March 2025
Some businesses and accountants are struggling to keep pace with emerging deceptive practices such as deepfake scams, a fraud specialist has warned. Advancements in technology, such as artificial intelligence, have enabled fraudsters to develop more sophisticated scams and fraud attempts in the past couple of years, including deepfake scams used to impersonate other people.
Liability for bank payment fraud – lessons from Mobius v Inoteq – 10 March 2025
According to the Australian Banking Association, 250,000 cases of misdirected bank payment fraud cost Australian businesses an estimated A$320 million last year. Yet so far there have been relatively few decisions in Australian courts on the question of liability for misdirected bank payments. Just before the end of last year, Australian cyber lawyers received an unexpected present: a decision on liability for bank payment fraud. Nicholas Blackmore looks at the decision and what it means for disputes about misdirected bank payments.
Whistleblower at NSW government department concerned by internal survey results, as staff member dies by suicide – 10 March 2025
A whistleblower has raised the alarm on a crucial state government department after an employee recently took their own life, as dire results from a staff survey have been leaked. More than half the workers at the Building Commission NSW are looking for a new job while 70 per cent are burnt out, according to an internal questionnaire
Workplace tensions: Salesperson disputes dismissal after refusing investigation – 11 March 2025
A worker challenged his dismissal before the Fair Work Commission (FWC), arguing that his employer had unfairly ended his employment. He claimed that he was not given a fair chance to respond to allegations against him and that the employer’s handling of the matter was procedurally flawed.
Australia reports decrease in scam losses and activities in 2024 – 12 March 2025
The National Anti-Scam Centre’s comprehensive 2024 report highlighted a significant decrease in scam-related financial losses, totaling $2.03 billion—a 25.9% reduction from the previous year. This data underscores the ongoing efforts to combat the financial impact of scams targeting Australians.
AFCA gains new powers as scam losses drop in Australia – 12 March 2025
The federal government has approved changes allowing the Australian Financial Complaints Authority (AFCA) to investigate the role of receiving banks in scam-related cases. Under current rules, AFCA can only review the actions of the bank that transferred a customer’s funds.The new directive, set to take effect within 12 months, will expand AFCA’s authority to examine whether receiving banks took appropriate measures to prevent fraudulent transactions.
https://psnews.com.au/financial-complaints-agency-getting-more-powers-to-investigate-scams/155401
Greater ethics requirements contributing to lower fraud levels – 12 March 2025
Advisers may struggle to meet their ethics CPD requirements, but the learnings are paying off as research finds it has helped to reduce adviser misconduct and financial fraud.
Australian Border Force employee charged for allegedly conspiring to smuggle drugs – 12 March 2025
An Australian Border Force employee and an alleged crime figure have been charged with bribery and drug offences. It’s alleged the employee was paid in cash to bypass security checks for drugs being smuggled into the country. The employee and alleged crime figure, along with two others, are expected to appear in court.
Police seek information after Foster woman scammed of $130,000 – 13 March 2025
Police are investigating the theft of $130,000 from an elderly regional Victorian woman. The scammer visited her Foster home and took her bank card from her — a measure she thought was the bank’s way of protecting her. The card was then used 130 times before being cancelled, robbing her of a large chunk of her life savings.
https://www.abc.net.au/news/2025-03-13/police-seek-information-after-foster-woman-scammed/105045880
Why we need stronger whistleblower protections – 13 March 2025
Whistleblowers play a vital role in our democracy by standing up for truth and accountability. Unfortunately, Australia’s weak laws mean that whistleblowers face punishment and reprisals when they speak up. In February, the Whistleblower Protection Authority Bill was introduced. The Bill would establish a body to oversee and enforce whistleblower protections, facilitate whistleblower disclosures, and safeguard whistleblowers who expose corruption and wrongdoing.
AFP raids Melbourne properties in CFMEU investigation – 13 March 2025
Police raided two properties in Melbourne on Thursday as part of an investigation into the CFMEU and corruption in the building industry. Australian Federal Police executed search warrants at a business address on Arthurton Road in Northcote and a five-bedroom home on Lynwood Parade in Templestowe Lower in what is understood to be an investigation into large financial transactions.
Belgian prosecutors arrest ‘Huawei lobbyists’ in corruption probe linked to EU parliament – 14 March 2025
Multiple people have been arrested by Belgian prosecutors who raided addresses as part of a corruption investigation linked to the European Parliament. Local reports suggest the probe centres on lobbyists working for the Chinese telecoms giant Huawei suspected of bribing EU members to promote the company’s commercial policy. Belgian newspaper Le Soir says “several lobbyists” in custody are due to appear in front of a judge for questioning.
Investigation & Fraud News – Week ending 7 March 2025
Australia’s first independent forensics lab targeting cold cases and mystery human remains – 1 March 2025
Australia’s first independent forensic science laboratory service is established to assist with high demand for DNA testing and body identification.
There are currently about 700 sets of human remains on police files, and countless more in storage due to confusion about their origin or identity. Families of long-term missing people will be able to utilise the service to progress investigations independent of police.
Man allegedly impersonated 13 men, women to change Centrelink bank details – 2 March 2025
A MAN is accused of pretending to be 13 different men and women in Tamworth and changing their Centrelink bank account details in an elaborate fraud.
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Near Identical Domain Used To Scam Over $800,000 With Wire For Real Estate Deal – 2 March 2025
Business email compromise (BEC) scams have become increasingly prevalent, particularly in high-value transactions like real estate. Cybercriminals exploit weak security measures and manipulate email communications to redirect payments to fraudulent accounts. In many cases, victims remain unaware of the fraud until it is too late. A South Australian woman narrowly avoided a complete financial disaster after falling victim to a sophisticated BEC scam that led to the loss of over $800,000.
David McBride’s lengthy prison sentence failed to take into account ‘brave and selfless’ motivations, lawyers argue – 3 March 2025
Lawyers for David McBride have argued their client’s lengthy prison sentence failed to take into account he was motivated by “bravely and selflessly” attempting to right what he saw as a “serious wrong”.
ASIC shuts down 130 investment scam websites per week – 3 March 2025
Online scammers are squarely in ASIC’s cross hairs with new data revealing more than 10,000 investment scam websites and online advertisements have been shut down by the agency. In the last six months of 2024, ASIC increased its new investigations by 31% to 109 new investigations, commenced 15 new court actions, and completed 376 surveillances. The update also reports ASIC was successful in the majority of its civil and criminal prosecutions, securing $46.6 million in civil penalties and 13 criminal convictions.
https://www.adviservoice.com.au/2025/03/asic-shuts-down-130-investment-scam-websites-per-week/
Former IRExchange execs in court after ASIC investigation – 4 March 2025
Three former executives of failed grocery marketplace IRExchange have been charged with giving false or misleading information to the corporate regulator’s probe into three capital raisings. Former IRExchange chief executive Brett Charlton, chief financial officer Brett Coventry, and company secretary Anand Sundaraj appeared at Downing Centre Local Court charged with several breaches of corporate law, following a five-year investigation by ASIC.
ASIC charges Brendan Gunn for dealing with money reasonably suspected of being proceeds of crime – 5 March 2025
Brendan Gunn of Camp Hill Queensland, has been charged with one offence against s.400.9.(1) to the Criminal Code alleging that he dealt with money or other property, it being reasonable to suspect that the money or property was proceeds of crime of $100,000 or more. It is alleged that Mr Gunn dealt with two bank cheques, which contained the proceeds of four investment amounts totalling $181,000 made by three victim investors who deposited funds for conversion to cryptocurrency.
How finance teams can catch fraud early and increase audit efficiency – 6 March 2025
Fraud is a major challenge for finance teams, with the Association of Certified Fraud Examiners (ACFE) reporting that businesses lose around five per cent of their annual revenue to fraud. Expense fraud, in particular, remains a significant concern. Article explains how businesses of all sizes can reduce fraud risk with stronger internal controls.
Aussie exposes alarming bank issue – 6 March 2025
An Australian man was disappointed when he lost more than $11,000 in a devious scam, but what he uncovered in relation to being able to easily open up bank accounts with limited information and no cross checking, reveals that banks facilitate crime.
Former businessman cons banks to obtain more than $6m in loans – 6 March 2025
A dodgy father and son have followed each other to jail within a week after investigators uncovered nearly $9m in bank loans they separately obtained using fraudulent documents.
Access to digital version of herald sun required to read article.
CFMEU delegates sacked, investigation launched into alleged Metro Tunnel wage scam – 7 March 2025
An investigation is underway into allegations a labour hire firm charged for shifts that were never worked on the Melbourne Metro Tunnel construction.
Two CFMEU delegates have been sacked over the alleged scam, which could have cost millions of dollars. The Victorian government says the cost of the alleged fraud won’t be borne by taxpayers.
https://www.abc.net.au/news/2025-03-07/vic-metro-tunnel-ghost-shifts/105022448
NT Police Association calls for commissioner Michael Murphy to resign following ICAC findings – 7 March 2025
The Northern Territory Police Association says commissioner Michael Murphy should resign, after he revealed himself as the subject of an investigation by the territory’s corruption watchdog. The NT Independent Commissioner Against Corruption (ICAC) found an unnamed public officer acted improperly by helping a long-term friend apply for a high-level job, for which they were on the recruitment panel. The Centre for Public Integrity is calling for changes to the NT ICAC Act that would clearly allow the anti-corruption body to name public servants in investigation reports.
Investigation & Fraud News – Week ending 28 February 2025
Buyer beware with funds transfer fraud – 21 February 2025
Given that Australians have lost hundreds of millions of dollars to funds transfer fraud in the past decade and a half, there is a surprising lack of authority indicating how courts apportion responsibilities and losses between funds Transferee and Transferor. Article goes through recent case law showing where the Court found in favour of the Seller/Transferee rather than the Buyer/Transferor.
https://www.qlsproctor.com.au/2025/02/buyer-beware-with-funds-transfer-fraud/
OpenAI removes users suspected of malicious activities – 24 February 2025
OpenAI has removed accounts of users from China and North Korea who the artificial intelligence company believes were using its technology for malicious purposes including surveillance and opinion-influence operations. The activities are ways authoritarian regimes could try to leverage AI against the US as well as their own people.
https://www.itnews.com.au/news/openai-removes-users-suspected-of-malicious-activities-615205
Victorian Police warns of scam campaign targeting Chinese-speaking community – 24 February 2025
Victoria Police has issued an updated warning regarding a phone- and social media-based scam campaign that has been targeting the Mandarin-speaking student community since 2017. However, police have recently observed the scammers broadening their victim base, with at least 20 per cent of victims being non-students.
Real-time tech makes life tougher for criminals – 24 February 2025
Industry-wide collaboration is putting the screws on international criminals, with the introduction of new confirmation of payee functionality coming this year to be a key part of this. Confirmation of Payee allows customers making a payment via their banking app to match the bank account details entered with the details held by the recipient’s bank and displaying the outcome to the customer. It’s designed to give Australians more confidence that they’re paying the right account and to decide what to do next – pay, check the details again or choose not to proceed with the payment altogether.
Australian regulator fines two ex-Star Entertainment executives for breach of duty – 24 February 2025
Reuters -Australia’s corporate regulator said on Monday it fined two former Star Entertainment executives a combined A$240,000 ($153,096) and disqualified them from managing any companies after they admitted to breaches of duty while at the casino operator. The Australian Securities and Investment Commission (ASIC) said it fined Star’s former chief financial officer (CFO), Harry Theodore, A$60,000 and disqualified him from managing corporations for nine months. It fined Star’s former chief casino officer, Gregory Hawkins, A$180,000 and disqualified him from managing corporations for 18 months.
https://finance.yahoo.com/news/australias-corporate-watchdog-penalises-two-050536402.html
Fake job ads leading to scam compounds and sexual slavery – 26 February 2025
This article outlines how scamming compounds have boomed across Asia from Sihanoukville in Cambodia to Myanmar. Victims are often sold between different organisations running scam operations. Once victims arrive, if they fail to meet targets, in many cases they’re forced into a kind of sexual slavery. Traffickers often issued fake “employment contracts” to deceive both the victim and authorities.
Facebook and Instagram publish graphic porn ads disguised as fake make-up tutorials – 26 February 2025
Meta has removed a page that published two dozen sexually graphic ads that were able to circumvent the platform’s auto-review process. An ABC NEWS Verify analysis of the ads has linked them to a dubious store that is hawking erectile dysfunction supplements and is filled with deceptive practices. The eSafety Commissioner’s office asked the social media industry to include proposed safety measures against pornographic materials in draft codes to the commissioner by February 28.
Tobacco Wars – 26 February 2025
Four Corners investigative journalist Dan Oakes uncovers the secrets of Australia’s black-market tobacco trade in Tobacco Wars. With illicit cigarettes readily available in cash-only stores and distributed by unmarked vans across the country, this investigation reveals a vast network stretching from Melbourne’s suburban tobacconists to international smuggling routes. Using concealed cameras and exclusive access to law enforcement, the Four Corners team follows the illicit pipeline, exposing the lucrative industry that is fueling violent organised crime while robbing the government of billions in lost revenue.
https://www.abc.net.au/news/2025-02-26/tobacco-wars/104986340
‘I can’t buy food for my children’: Facebook profits from charity scams costing taxpayers – 27 February 2025
Social media giant Meta has been profiting from hundreds of Facebook scam advertisements preying on Australians experiencing financial hardship, leaving taxpayers and charities to foot the bill. The fraudulent ads purport to offer no-interest loans to people with low incomes facing unexpected costs, such as replacing a broken fridge, car repairs so they can get to work, or bond money to secure a rental property. In reality, they trick Australians into handing over sensitive personal details that allow scammers to crack into their myGov accounts, redirect their Centrelink payments and steal their identities.
Six tonnes of party drug bute seized in Sydney after routine police check – 27 February 2025
NSW Police have seized more than six tonnes of the party drug butanediol with a street value of $132 million in Sydney. Officers discovered the warehouse where the drug was stored after a chance find during a routine firearms compliance check at another address. A 26-year-old man and 27-year-old woman have been charged.
https://www.abc.net.au/news/2025-02-27/nsw-bute-drug-seized-after-routine-check-croydon/104988956
‘Shockingly legitimate’: Scammers up their game to steal your hard earned – 28 February 2025
Australians are being inundated with investment scams that look like real products, the corporate watchdog has warned. ASIC says it’s making headway in its efforts to stem the endless tide of scammers, pulling more than 10,240 websites down in just two years. It highlights that in the last six months of 2024, ASIC increased its new investigations by 31 per cent to 109 new investigations, started 15 new court actions, and completed 376 surveillances. The update also reports ASIC was successful in the majority of its civil and criminal prosecutions, securing $46.6m in civil penalties and 13 criminal convictions.
Investigation & Fraud News – Week ending 21 February 2025
How fraudsters are targeting Australians online with the ‘Rom-con’ scam – 15 February 2025
The Australian Federal Police (AFP) is turning the tables on romance scammers by revealing the real-life scripts they use to manipulate and defraud victims. The dialogue, designed to tug at heartstrings and empty bank accounts, was uncovered during an international operation to dismantle a scam compound in the Philippines. The AFP-led Joint Policing Cybercrime Coordination Centre (JPC3), in partnership with the National Anti-Scam Centre (NASC), is now urging Australians to read the script and remain vigilant against fraudsters preying on those seeking love online.
ASIC quick to utilise Federal Court’s expanded jurisdiction to hear criminal matters – 15 February 2025
ASIC has been quick to use the Federal Court’s expanded jurisdiction to oversee a range of criminal matters. The Attorney General’s Portfolio Miscellaneous Measures Act 2024 (the Act), significantly expands the Federal Court’s jurisdiction to include various white-collar crime offences. This Act confers jurisdiction on the Federal Court to hear and determine prosecutions for indictable offences against several key pieces of legislation, including the Corporations Act 2001, the Australian Securities and Investments Commission Act 2001, and specific provisions of the Criminal Code related to white-collar crimes such as bribery of foreign public officials, forgery, identity crime, money laundering, computer offences, financial information offences, and accounting records.
Australian unit of ComfortDelGro probes media allegations of wrongful conduct – 17 February 2025
ComfortDelGro is addressing allegations of scams involving its Australian subsidiaries. According to the article, the scams involve taxi drivers exploiting loopholes in the terminal and payment systems provided by A2B, to overcharge passengers. This benefits the driver and Cabcharge, which “pockets a percentage of every transaction on the terminal”, noted the report. The scams are also said to involve the gaming of Cabcharge fare payment products which A2B supplies to state and federal agencies, companies, hospitals and other health and disability services.
ATO cracking down on $557 million scourge fleecing Aussies – 17 February 2025
The Australian Taxation Office (ATO) is looking to introduce “real-time” fraud detection to tackle a rising tide of tax scams. More than half a billion dollars has been claimed by fraudsters creating fake myGov accounts and redirecting tax refunds.
The ATO has now approached the market for suppliers to build an “industry-leading” fraud risk engine to detect, analyse and prevent fraud as it occurs. This would allow the ATO to stop, halt, delay or double-check suspicious transactions as they happen.
Money Laundering Crackdown: AUSTRAC Puts 50 Firms, Including Crypto Exchanges, On Notice – 18 February 2025
Australia’s financial crimes watchdog, AUSTRAC, has written to over 50 companies, including many involved in the crypto industry, over their failure to meet their reporting requirements under Australia’s anti-money laundering and counterterrorism financing laws. AUSTRAC said it’s already taken action against 13 crypto exchanges this year for failing to disclose the criminal histories of key employees
Smart cameras are transforming mining operations – 18 February 2025
Cameras in mining no longer serve as passive recording devices. They now generate real-time data that enhances decision-making across safety, efficiency, and security. Real-time incident detection allows cameras to trigger automated alarms for safety violations, equipment malfunctions, or security breaches. AI-powered predictive analytics help forecast equipment failures, enabling maintenance teams to act before costly breakdowns occur.
https://www.australianmining.com.au/smart-cameras-are-transforming-mining-operations/
The 31-year-old accused of conning a Wall Street giant in $US175m deal – 19 February 2025
JPMorgan executives are expected to take the stand to testify about how the lender was allegedly defrauded out of $US175 million ($276 million) by young entrepreneurs, drawing fresh attention to how the biggest US bank vets its acquisitions. According to the government, the pair hired a data scientist to create fake accounts showing 4.25 million customers, even though they knew it had fewer than 300,000.
Businesses face growing threat from deepfake scams, Forrester warns – 20 February 2025
Deepfakes are presenting increasing challenges for businesses, according to a new report from Forrester Research. The report outlines how advances in artificial intelligence (AI) are enabling the creation of deceptive digital content, posing risks ranging from financial losses to reputational damage for companies operating online. It suggests that deepfake technology is now more accessible and affordable than ever, allowing fraudsters to create convincing fake identities that can bypass traditional security measures.
https://channellife.com.au/story/businesses-face-growing-threat-from-deepfake-scams-forrester-warns
New anti-scam laws pass parliament – 20 February 2025
The federal government has passed tough anti-scam laws. Banks, telcos, and social media companies under the framework will be subject to comprehensive and enforceable sector-specific rules for what they must do to protect Australians. The rules, yet to be finalised, could include a requirement for social media companies being required to verify advertisers on their platforms to help reduce scam ads. Banks could be required to confirm the identity of payees, and telcos could be required to detect and disrupt scam calls and text messages.
https://www.cowraguardian.com.au/news/new-anti-scam-laws-pass-parliament
Norwegian crypto scam suspects charged with $80M fraud – 20 February 2025
Norwegian authorities charged four men with orchestrating a fraudulent cryptocurrency investment scheme that allegedly swindled investors out of over 900 million Norwegian kroner (approximately $80 million). The economic and environmental crime unit, Økokrim, accused the individuals of deceiving thousands of investors across various countries into believing they were investing in a highly profitable business with interests in gas, mining, and real estate.
Financial watchdog chasing Entain – 20 February 2025
After two years investigating Online and hospitality bet-maker “Entain P/L”, AUSTRAC commenced civil penalty proceedings in December alleging serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
https://pubtic.com.au/financial-watchdog-chasing-entain/
