Picture: ANDREW KACIMAIWAI
A QUICK decision to seek help has enabled a South Australian woman to recover $777,000 after she fell victim to an online scam last year.
The Australian Federal Police (AFP) is highlighting the case to promote Cyber Security Awareness Month, which starts today (Tuesday).
AFP Detective Acting Superintendent Darryl Parrish says this case highlights the global nature of cybercrime and the importance of co-operation domestically and internationally.
“This case is an important reminder for everyone that the recovery of funds is complex and, in some situations, not possible, which is why all Australians need to take preventative measures to protect themselves from these manipulative cybercriminals,” he says.
“If you are a victim or have suspicions you have been scammed, report it as soon as possible to your bank then to police via cyber.gov.au,” he says.
“This is the best approach for police and banks to stop the transfer and retrieve your money. You can help others protect themselves from similar scams by reporting to Scamwatch.”
Image: supplied by AFP
BEC SCAM
The AFP says the money was stolen in a Business Email Compromise (BEC) scam prompting the victim to seek help quickly.
Cybercriminals created a fake email address with a letter different to the legitimate business email to deceive a South Australian woman into sending $813,000 to them.
In May 2023, the woman notified her bank and police via cyber.gov.au two days after she had transferred the money to a fake bank account. The money was to buy a new home.
The BEC scam is used to trick victims into transferring funds into a criminal account.
The AFP, state and territory police and financial institutions froze the fake bank account and retrieved $505,000 before it could be transferred again.
When police identified that nearly $300,000 was already transferred into cryptocurrency in a Digital Currency Exchange (DCE) account, they asked the Pakistani National Response Centre for Cyber Crime (NR3C) and global cryptocurrency exchange Binance to freeze the fraudulent DCE account; they retrieved $272,000 from the account.
The $777,000 (96 per cent of the stolen funds) was returned to the woman in March.
The AFP says the NR3C identified a Pakistani national as a suspected money mule who opened the account in his name for other criminals to launder illegal funds.
The investigation is ongoing.
If you need support, you can contact Lifeline on 13 11 14 or Beyond Blue on 1300 224 636.
