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.
Author Signature :
Sydney Criminal Law Specialists
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