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NSW Police charge woman for laundering $7 million in funds from illicit tobacco sales through fraudulent mortgages

Publisher
ABC
Date published
February 2025

Relevant impacts: Government outcomes impact, Industry impact, Financial impact.

New South Wales Financial Crimes Squad detectives, as part of Strike Force Karawina, have charged a woman for allegedly laundering nearly $7 million through fraudulent mortgages on behalf of an organised crime network. 

The woman had applied for and was granted up to 10 home loans at various banks using fraudulent documentation that inflated her income. Seven mortgaged properties were the subject of the investigation to the value of $6,910,050. The woman then laundered funds on behalf of an organised crime network through the mortgage repayments. NSW Police believe the majority of the funds were derived through the illegal tobacco trade.

Strike Force Karawina was established by State Crime Command’s Financial Crimes Squad and NSW Crime Commission in June 2024 to investigate the alleged laundering of illegal tobacco funds through property by an organised crime syndicate hailing from Southeast Asia.

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Related countermeasures

Collaborate with strategic partners such as other government entities, committees, working groups and taskforces. This allows you to share capability, information and intelligence and to prevent and disrupt fraud.

Supporting clients, suppliers, providers, contractors, industry partners to protect themselves from scams, exploitation, identity theft and compromise.

Reconcile records to make sure that 2 sets of records (usually the balances of 2 accounts) match. Reconciling records and accounts can detect if something is different from what is standard, normal, or expected, which may indicate fraud.

Internal or external audits or reviews evaluate the process, purpose and outcome of activities. Clients, public officials or contractors can take advantage of weaknesses in government programs and systems to commit fraud, act corruptly, and avoid exposure.

Prepare summary reports on activities for clients, managers or responsible staff.

Coordinate disruption activities across multiple programs or entities to strengthen processes and identify serious and organised criminals targeting multiple programs. It can also include referrals to law enforcement agencies for those groups that reach the threshold for complex criminal investigations.

 Investigate fraud in line with the Australian Government Investigation Standards (AGIS).

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