Beware of side-hustle job scams like money mule, says AFP

Criminals are advertising ‘side-hustle’ jobs to trick local and international university students into doing their dirty work, police say.

The Australian Federal Police says criminal networks will use the start of the new university year to target students through online job ads which offer quick money for jobs that ultimately may involve money laundering or identity theft.

AFP Commander of Cybercrime Operations Graeme Marshall says local and overseas students must be cautious.

“Fake job scams can pose devastating consequences for victims, such as visa cancellations and imprisonment,” Cmdr Marshall says.

“Imagine moving to another country to build your career and future only to have it all taken away because you were scammed by criminals to help them move their dirty money around.”

The AFP says one of the most common job scams involves students unknowingly serving as ‘money mules’; criminal networks send their illegal money to the student’s bank account and direct them to transfer it elsewhere to earn a commission.

The AFP-led Joint Policing Cybercrime Co-ordination Centre (JPC3) says criminals are offering overseas students an average ‘salary’ of about $1000 per month plus commission.

They target mostly financially vulnerable students, looking for part-time or casual employment, speak English as a second language, and have limited knowledge of Australian laws.

The AFP-led JPC3 joined forces with banks to warn foreign students of job scams and the dangers of money laundering.

ANZ Head of Financial Crime Threat Management, Milan Gigovic says ANZ recognises the “serious risks” that money mule accounts pose.

“That’s why we’ve designed and built dynamic algorithms specifically targeting mule activity and are collaborating … to investigate, report, and shut down these accounts,” he says.

CommBank General Manager of Group Fraud, James Roberts says education is vital in preventing scams and university students need to learn how to identify and avoid scams

“If something sounds too good to be true, it often is,” Roberts says.

“At CBA, we have seen customer scam losses reduce by 70 per cent over the last two years.”

“Protecting Australians requires ongoing collaboration across industries and we believe education is critical in keeping our communities safe and making Australia less attractive to scammers.”

Westpac’s Head of Fraud Prevention Ben Young says it is frustrating to see scammers target unsuspecting Australians.

“I urge everyone to stay vigilant. When it comes to mule accounts … we are focused on identifying, investigating and shutting down these illegitimate accounts to prevent further harm,” he says.

NAB’s Head of Financial Crime Investigations, Georgia Brookes says too often they see criminals target customers on social media or messaging platforms to open, rent or buy a bank account or make them become an unsuspecting money mule.

“We need everyone to be alert to the red flags of scams. It’s illegal to rent, buy or sell a bank account,” Brookes says.

“Be alert to any job where you are offered a commission for transferring funds through your own account. When a mule account is detected, we take action and freeze accounts.”

SIDE-HUSTLE SCAM

Brookes says students may also be targeted by job ads promoting ‘side-hustle’ gigs that require little work and no experience (such as liking social media posts or reviewing products) for reasonable payment.

Scammers will sometime ask victims to ‘invest’ their own money and promise they’ll get it back once they start work with a rich commission.

Victims will be paid very little and asked to invest even more money for higher commissions. They can be tricked into paying for extra job training, equipment, or registration fees via bank transfer or cryptocurrency.

Criminal operators may also ask for a victim’s personal information (bank details, tax file numbers, and passports) as part of a fake job application to open bank accounts in the student’s name.

Another tactic involves criminal groups paying other students to directly approach and recruit their peers on campus.

FUTURE PROSPECTS

Commander Graeme Marshall said these job scams were malicious schemes targeted to local and international students already facing difficult financial situations.

“If you are applying for work in Australia, no job offer should require payment from you before you are hired. If there’s no interview process, the job description seems vague, or you are offered money to move funds around, walk away.

“Remember, if you are coming to Australia for tertiary studies, this is your future – don’t let criminals steal it away from you.”

TIPS TO PROTECT YOURSELF

• Research the legitimacy of job offers by contacting companies directly using official contact information.
• Be cautious of jobs with vague responsibilities or unrealistic salaries.
• Don’t share banking and personal details with anyone you don’t know or trust.
• Legitimate employers never ask for money upfront.
• Don’t engage with online posts offering large sums of money.
• If someone asks to use or ‘borrow’ your bank account, say ‘no.’
• If you suspect something is not right, reject the offer.

WHAT TO DO IF YOU’RE A VICTIM

• Stop all communication with the scammer.
• Contact your financial institution if you have transferred money or suspect unusual account activity.
• Report it to police at www.cyber.gov.au/report-and-recover/report
• Report suspected scams to ScamWatch to help others avoid similar scams.
• If you were contacted via social media, report it to the social media platform.
• Use strong, unique passphrases on your accounts and enable Multi-Factor Authentication wherever possible.
• If you are concerned your identity has been compromised, contact the national identity and cyber support service, IDCARE.

If you, or someone you know needs help, contact Lifeline on13 11 14 or Beyond Blue on1300 224 636, who provide 24/7 support services.