Two charged over $500,000 BEC scam

Two Sydney women have been charged over their alleged involvement in a $500,000 business email compromise scam against interstate businesses and a Sydney-based university.

NSW Police said detectives from the State Crime Command’s Cybercrime Squad charged the women, both aged 30, following an investigation into money laundering activities using BEC scams under Strike Force Belltree.

The first women was arrested at a unit in Campsie on October 22 and charged with knowingly dealing with proceeds of crime. She has received conditional bail and will face Burwood Local Court today.

NSW Police will allege in court that the women sent a fraudulent email claiming to be from a Sydney-based university requesting payment of almost $322,000 from an unnamed business.

The money was allegedly then transferred into an account registered to a 29-year-old man, who then transferred the money to multiple account connected to the Campsie woman.

The man has already been arrested and charged over his alleged involvement in the scam.

The second women was arrested by police at Kyeemagh and has been charged with three counts of recklessly dealing with proceeds of crime, as well as making a false statutory declaration.

Police will allege that the woman altered invoices and sent fraudulent emails to several interstate businesses, which resulted in just over $186,000 being transferred to her accounts.

The woman has also received conditional bail and will face Sutherland Local Court today.

Australia’s competition watchdog put the total value of business email compromise scams losses in Australia at over $60 million last year [pdf].