13 December 2024, 11:45am
Media Release
Money mule sentenced for laundering cash stolen from Australian businesses
Editor's note: Arrest vision and photos available via Hightail.
A Melbourne man has been sentenced for laundering more than $208,000 stolen from Australian and overseas businesses targeted by cyber criminals.
The man, 24, was sentenced by the Melbourne County Court today (13 December, 2024) after pleading guilty in November to three offences. He was sentenced to 18 months imprisonment and immediately released upon entering a Recognizance Release Order, to be served in the community as long as he remains of good behaviour.
The AFP Joint Policing Cybercrime Coordination Centre (JPC3) investigation began in August, 2022, after an Australian bank alerted the AFP about unusual financial transactions.
The investigation identified that $208,822 of criminal proceeds from business email compromise (BEC) frauds were deposited into the man's bank accounts between June, 2021, and May, 2022. The man then dispersed the funds among several accounts, before transferring the money to another individual.
Police found more than $17,000 of the proceeds was derived from a BEC attack on an Australian construction company. The company paid the funds into a bank account in the man's name after receiving a fraudulent email purportedly from a furniture supplier advising their bank details had changed.
The AFP charged the man in July, 2023. He pleaded guilty on 28 November, 2024 to:
- One count of dealing with the proceeds of crime, money or property worth $100,000 or more, contrary to section 400.4(2B) of the Criminal Code 1995 (Cth);
- One count of possessing a drug of dependence, namely cocaine, contrary to section 73(1)(b) of the Drugs, Poisons and Controlled Substances Act 1981 (Vic); and
- One count of possessing a drug of dependence, namely cannabis, contrary to section 73 (1)(a) of the Drugs, Poisons and Controlled Substances Act 1981 (Vic).
AFP Detective acting Superintendent Nuckhley Succar said the man played an active role in concealing the cybercrimes and enabling those offenders to access the profits by moving proceeds into different accounts to evade law enforcement.
"Australians are doing it tough, and deceitful activities that support cybercrime will not be tolerated by the AFP," Det a/Supt Succar said
"If you are moving funds to assist with money laundering, you should be aware that the AFP is working closely with financial institutions and other law enforcement and intelligence agencies to target you and your associates.
"In the 2023-2024 financial year, business email compromise and fraud were among the most common self-reported cybercrimes for small, medium and large businesses and individuals in Australia*.
"Cybercriminals commonly target businesses and individuals that make significant or regular payments, in an attempt to divert funds to fraudulent accounts.
"It is crucial for people to double-check emails, particularly email addresses and banking details, to avoid becoming victims of BEC scams."
The JPC3 brings together Australian law enforcement and key industry and international partners to fight cybercrime and prevent harm and financial loss to the Australian community.
The JPC3 is committed to equipping all Australians with the knowledge and resources to protect themselves against cybercrime.
Watch the cybercrime prevention videos and protect yourself from being a victim of cybercrime.
If there is an immediate threat to life or risk of harm, call 000.
If you are a victim of cybercrime, report it to police using Report Cyber.
*Australian Cyber Security Centre Annual Cyber Threat Report 2023-2024.
