Australian couple arrested for identity fraud and crypto money laundering

28 Sep, 2018
by Fifi Arisandi
Australian couple arrested for identity fraud and crypto money laundering

The Australian authorities arrested couple suspected for identity fraud and laundering money worth of more than US$216,450 using cryptocurrency.

An investigation to online transactions that use stolen credit card conducted by Strike Force Breakbank has led to an arrest being made by the Australian authorities to a couple living in the south-west of Sydney.

The couple, whose names are not disclosed, is suspected for using stolen credit card to open 45 companies and bank accounts, which they used to receive the money from their fraudulent “business” activities.

They, then, laundered the money by purchasing digital currencies, including Bitcoin and put them into their offshore crypto accounts. According to The Sydney Morning Herald, the total amount of money used to buy cryptocurrency is AU$300,000 or around US$216,450.

For their crimes, the 32-year-old man was charged with 35 fraud-related offences, six identification fraud-related offences and knowingly dealing with proceeds of crime and refused for bail, while the 29-year-old woman was charged with 12 fraud-related offences and granted strict conditional bail.

Both of them are obliged to appear in the local court on Tuesday, October 9th.

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