Warning on money-transfer scam

AUSTRALIANS have been warned they risk prosecution if they become involved in a money-laundering internet scam. Victoria Police said today at least two cases had been reported at Castlemaine, in central Victoria. Banks were freezing the accounts of those suspected of being involved in transacting stolen money, a police spokeswoman said.

The scam involves Australians giving their bank account details to an overseas organisation, which places the stolen money in the local account. The Australian account holder then withdraws the money and wires it back overseas, but keeps between 5 and 10 per cent themselves. The Australian Federal Police (AFP) said today law enforcement agencies had already prosecuted a number of Australians with money laundering and similar offences. The Australian: Warning on money-transfer scam

Linked by shanmuga Tuesday, 1st November 2005 2:55AM