A 24-year-old Melbourne man has been sentenced for laundering more than $208,000 stolen from Australian and overseas businesses targeted by cybercriminals.
The Melbourne County Court handed down the sentence today (13 December 2024) after the man pleaded guilty to three offences last month. He received an 18-month prison term but was immediately released on a Recognizance Release Order to serve in the community, provided he maintains good behaviour.
The case, investigated by the AFP Joint Policing Cybercrime Coordination Centre (JPC3), began in August 2022 when an Australian bank flagged suspicious financial transactions. Investigators found that between June 2021 and May 2022, $208,822 in criminal proceeds from business email compromise (BEC) frauds had been deposited into the man’s bank accounts. The funds were then moved to several accounts before being transferred to another individual.
Among the frauds, more than $17,000 was traced to a BEC scam targeting an Australian construction company. The company was deceived into paying funds into the man’s account after receiving a fake email claiming the supplier’s bank details had changed.
The AFP charged the man in July 2023. He pleaded guilty on 28 November 2024 to:
- Dealing with the proceeds of crime worth $100,000 or more.
- Possessing cocaine.
- Possessing cannabis.
AFP Detective Acting Superintendent Nuckhley Succar said the man’s actions actively facilitated the cybercriminals’ access to stolen funds.
“Deceitful activities that support cybercrime will not be tolerated by the AFP,” Det. A/Supt. Succar stated.
He urged businesses and individuals to double-check emails and banking details to avoid falling victim to BEC scams, noting these frauds were among the most reported cybercrimes in Australia during the 2023-2024 financial year.
The AFP continues to work closely with financial institutions and other agencies to target those enabling cybercriminal activities.
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