Stolen identities used to target superannuation early access scheme
Date published
August 2020
Relevant impacts: Financial impact, human impact and reputational impact
Three Queensland women allegedly submitted several fraudulent applications to attempt to access early release of superannuation totalling $113,500. Police allege that the women, who are allegedly linked to a sophisticated crime gang, collected identity data in order to access the superannuation accounts of unsuspecting victims. The women were arrested following investigations by the Serious Financial Crime Taskforce.
Related fraudster personas
Related Countermeasures
Authenticate customer or third-party identities during each interaction to confirm the person owns the identity record they are trying to access.
Limit access to sensitive information and records.
Automatically notify clients or staff about high-risk events or transactions. This can alert them to potential fraud and avoid delays in investigating and responding to fraud.
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.
Fraud detection software programs automatically analyse data to detect what is different from what is standard, normal or expected and may indicate fraud or corruption.
Audit logging is system-generated audit trails of staff, client or third-party interactions that help with fraud investigations.