MONEY LAUNDERING SCAM – DON’T GET FOOLED

Sign Up for free e-mail updates!

A new education programme is providing information to people on how to avoid being fooled into laundering money for criminals.

Senator Ian Macdonald, the former Chair of the Joint Standing Committee on the Australian Crime Commission, said that the Australian Federal Police (AFP) and the Australian Bankers Association are raising awareness on this type of crime, in the hope that people will not fall victim to scams.

“The basic premise of that if it sounds too good to be true - it usually is, holds true in this respect.

 “These scams involve an unsuspecting person becoming a ‘money mule’ for fraudsters. They are targeted by criminals through job offers or online dating arrangements.

“Victims provide their banking details, which allow their account to be used to receive stolen funds, which are then transferred to another account. They become the ‘money mule’ or middle man to launder money.

“Techniques used by the scammers include sending out fraudulent job offers and online dating.

“Job offers are sent to random email addresses to try to lure unsuspecting people into being money mules.

“Online dating is also a sinister technique, with singles being targeted and asked for money to be transferred and remitted for airfares to allow the singles to meet.

“Victims leaves themselves open to identity threat, as confidential bank account details are asked for by the criminals” Senator Macdonald said.

The AFP and the Australian Bankers Association provide the following tips to help people avoid becoming a money mule;

- Be cautious about unsolicited offers or opportunities offering you the chance of making easy money;
- Be wary of offers from people of companies overseas, as it makes it harder to check if they are bona fide;
-Take steps to verify any company which makes you a job offer, for example, address, phone number, email address and website. You could check if it is a registered company in Australia;
 - Never give your confidential banking details to anyone
Always guard your personal information and be suspicious if someone asks for a host of personal details soon after contact;
- Be wary of a person asking for financial assistance – never send money, particularly wire transfer as these funds cannot be recovered by a bank;
 - Be cautious of someone asking for details of your financial status – do not provide the information.

“I strongly encourage people to be alert when using the internet and to be very careful to protect their personal information” Senator Macdonald said.

For further information relating to this type of online scam, or to obtain a fact sheet, contact the office of Senator Macdonald on 4771 3066.

More Media Releases