Cybercrime on the rise: Sydney woman arrested for alleged Bitcoin money laundering scheme  

Cybercrimes involving the use of cryptocurrencies are on the rise in Australia. On May 14, in their latest efforts against cybercrime, NSW Police arrested a 52-year-old woman in a Burwood shopping centre for allegedly operating an unlawful digital currency provider.

officers seized $60,000 in cash and 3.8 Bitcoin (worth over $55,000) as well as confiscating the woman’s mobile phone. A further $18,200 worth of Bitcoin and a number of cryptocurrency wallets and electronic devices were later seized from a Hurstville apartment. The woman was charged with 3 counts of knowingly dealing with proceeds of crime under and breaching requirements in operating a digital currency exchange service under . It is alleged by police that the woman is a member of a criminal syndicate who uses Bitcoin to launder money and has transacted over $5 million worth of Bitcoin since 2017.