Banks, mules and government fools let scammers run free in Australia

Dr. Kim Sawyer writes that every deception that surrounds the blindness of the Australians is a system that protects the banks, ignores the victims and makes the crime.

Fraud is at least an excellent crime in Australia. When you are just a big subject of scam, you start to understand that scammers and accessories cannot be calculated.

The structure of an authorized pushing payment (APPLICATION) It is like a pyramid in a scam mafia company. There are a scene under a scene, a scene under a scene, a company that establishes a company for money laundering on top, criminals. And at the bottom, there are mules paid for the use of accounts for money laundering.

Fraud centers everywhere: Moscow, Tel Aviv, Karachi, but especially in Southeast Asia. A UN News Last year, the investigation found that scam farms increased in the region. In March 2024, a Philippine fraudulent farm closed by the authorities was found to have 700 workers surrounded by fence from the outside world. Bendikt Hofmann Combating drugs and crime from the UN agency.

Hoffman commented:

“All daily needs are met. Restaurants, dormitories, barbers and even a karaoke stick. So, people don’t actually have to leave for months.

Australia has been a soft target for retirement pensioners. Australia has been a soft target, because the regulators were very slow to move, and the banks did not want to share responsibility. The need for international crime unions needed to launder money and mules with the accounts to be used for laundering money laundering and a system that protects them.

Intermediaries sometimes have a criminal history, but can establish a company ASIC Just to control the past, just as mules constitute accounts without identity controls. In the deception we deal, the company was established a week ago and soon after the mule accounts. The last time we checked, the money laundering company was still not released by ASIC.

Mules are usually poor; Sometimes they are international students to leave the country, sometimes prisoners. Hundreds of dollars are paid to the use of their accounts to the mules. Fraud detection company Biocatch Globally estimates 2 million mules account, but the visible part of a large, uncompromising iceberg. Black money laundering is one of the largest industries in the world.

Great fraud victims in Australia, Australia Cyber Security Center. The subject is then referred to the state police, which is frequently malfunctioning and insufficient funded. The police are limited to prosecution of the mules, not higher than directors in the pyramid.

Only mules are subject to prosecution; Most of the time, they do not go to court and if they do, a community service is given. Police understands the problem better than most.

The transactions in an application deception have four steps:

mule accounts have been created;
The victim publishes funds from his accounts;
The funds are transferred to mule accounts instead of the accounts specified by the victim; And
Money flows from mule accounts.

Each of the steps is necessary for the deception; Remove any of the steps and will collapse into the scam. A deception obligation depends on the responsibility of each step, then why the victims should be responsible for the mule accounts and the money laundering they do not have any information?

Logically, the banks that allow mule accounts and money laundering should be some responsibility. However, not in Australia, where victims are held responsible for mule accounts and money laundering. Logically, banks should pay at least 50%repayment.

In the second half of 2023, Australian Financial Complaint Authority (Afca) Received losses exceeding $ 1 million from 17 victims. They were nothing back. In Australia, the reimbursement rate in Australia for app fraud is well below the major banks of the United Kingdom and USA, where the reimbursement average is 75%.

Ramishing Prevention Framework (SPF) Legislation by the Government before the last election is silent in reimbursement. The government has been constantly opposed to repayment or any formula for repayment. Refund is at the discretion of banks and banks can discriminate as they wish.

Banks seized the organizers. Australian Consumer and Competition Commission in 2020 and 2022ACCC) suggested that the creditor system to stop many transfer to mule accounts. Australian Banking Association (Aba) He made lobbying in order not to adopt politicians at a great cost to his scam victims in the last five years.

There were other regulatory failures. ASIC allowed the establishment of money laundering companies without checking the history of the company or managers. ASIC Manages Epayments code To edit electronic payments. The code is a voluntary application code that banks subscribed to, since June 2022, and is used to determine the responsibility of fraud, but the 42 -page code talks only once about fraud.

In the examination of the EPAYMENTS code in 2022, ASIC acknowledged that the Epayments code was not designed to cover frauds. Ramishing victims were not surprised findings From the 2024 Senate Committee, which proposes that the Australian government should accept that the Australian government cannot fulfill its regulatory task comprehensively.

The regulatory failure does not end here. . Black Money Running Law 2006 Austria to prosecute banks because the money does not watch money laundering. Australian Nations Bank in 2018 (Cba) 700 million dollars were punished for serious violations of anti -money laundering laws, as it did not effectively monitor more than 50,000 transactions.

In 2020, Westpac He was sentenced to 1.3 billion dollars for violating the laws and admitted that he could not report more than 19.6 million international transfers of over $ 11 billion. In both cases, there was no specific evidence about the money laundering, but in the app frauds, which is evidence of money laundering, Australia will not prosecute and prosecute the police.

Apart from a few exceptions, politicians decided that banks were too big to fail; they will be protected at any cost; And the highest priority of bank shareholders and institutions. Banks are accessories in financial crime, but are protected unlike other accessories.

A mule cannot be a mule without a bank. A company cannot be a company without ASIC. If Austrac prosecute certain money laundering, money laundering may not occur so often. The government is regulator. The government must regulate.

https://www.youtube.com/watch?v=9i7mnjh-vlu

Dr Kim Sawyer, School of Historical and Philosophical Research At the University of Melbourne.

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