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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The Fabricator

The Fabricator invents or produces something that is false to dishonestly gain personal benefits.

The Organised

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The Deceiver

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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.

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

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