Man Jailed 2 Years for Identity Fraud in Crypto Exchange Sign-Ups
An Australian man received a two-year prison sentence for cyber-enabled identity fraud, involving the creation of online cryptocurrency accounts using counterfeit documents.
On June 21, the Australian Federal Police (AFP) reported that a 31-year-old Aussie man was sentenced at the Melbourne County Court.
A Melbourne man was sentenced to two years imprisonment at the Melbourne County Court on Monday 17 June, 2024, for cyber-enabled identity theft offences, including the use of fraudulent documents to establish online cryptocurrency accounts.https://t.co/pckizxOi3i
— AFP (@AusFedPolice) June 21, 2024
Initially, Report Cyber, an Australian Commonwealth Government site for cybercrime reporting, received a complaint from a victim in New South Wales about an unauthorized bank account creation.
AFP inquiries found the perpetrator used fake driver’s licenses, with real victims’ details and his photo, to open accounts on two cryptocurrency exchanges.
This arrest followed an international investigation into a website selling fraud-enabling technology, which facilitated theft totaling over $670,000 from victims.
The AFP initiated “Operation Stonefish” in August 2022. This followed a UK investigation into a website that offered spoofing services, for as little as $25.
Once subscribed, the site allowed users to conduct fraudulent activities. These services included making robo-calls, sending one-time pins, and employing other deceptive services to facilitate scams.
Analysis revealed Australia was a popular target for users of the website. As a result, the two authorities have collaborated to identify victims of the site and potential users in Australia. This led to the arrest of two other individuals, according to a separate AFP
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