Young mum and alleged cyber crime mastermind charged – The Australian Financial Review

Superannuation and share trading accounts were then compromised with the proceeds deposited into at least 70 bank accounts that were opened in the names of their victims.

The fraud continued with a series of wash sales, with assets exchanged for jewellery overseas before being converted into cryptocurrency and recycled back into Australia.

ASIC deputy chairman and chief enforcer Dan Crennan said the complex nature of the fraud was a reminder for providers of financial services to remain vigilant.

“We will continue to pursue not only cyber-related market and superannuation offending but also the need for institutions to maintain their obligations to ensure they have adequate cyber resilience,” he said.

The investigation continues and the possibility of further arrests and charges remain. The superannuation funds and brokers who were exploited continue to assist the police, who acknowledged their co-operation.

The fraud investigation was conducted by the joint agency effort known as the Serious Financial Crime Taskforce (SFCT).

AFP manager cyber crime operations Acting Commander Chris Goldsmid said the case highlighted the far-reaching consequences of identity theft and praised the performance of the partner agencies involved.

“From identity theft, where innocent victims have their personal details stolen and sold online in dark net marketplaces; to hacking and phishing, this investigation has illustrated the devastating impacts that compromise of your identity can have,” Commander Goldsmid said.

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