Simply put
- Fraudsters are taking advantage of Australia’s cybercrime reporting system to impersonate federal police and steal cryptocurrency from individuals.
- The scheme involves using stolen personal information to file fake reports on ReportCyber and contacting victims while posing as Australian Federal Police employees.
- This caution is issued as the country tightens regulations on cryptocurrency-related fraud.
Authorities issued a warning on Wednesday that criminals are misusing Australia’s official cybercrime reporting system to impersonate the federal police and access cryptocurrency wallets.
The Australian Federal Police (AFP) noted that fake reports are being filed on ReportCyber using stolen personal details to pose as AFP officers who then contact victims in efforts to seize their digital assets.
AFP Superintendent Marie Anderson mentioned that these scams are particularly convincing, as the fraudsters “verify personal information in a manner consistent with public expectations” and create a “sense of urgency” to press the victims.
According to the AFP-led Joint Police Cybercrime Coordination Centre, criminals are illegally acquiring personal details such as email addresses and phone numbers to submit fraudulent reports through the system.
This platform allows for third-party reporting, which scammers exploit to build credibility, as noted by the AFP.
AFP has been asked for additional comments.
Fraud techniques
The police have outlined how these scams operate in their statement.
One victim reported receiving a call from someone pretending to be an AFP employee, who claimed that the victim’s name was involved in a cryptocurrency breach and provided what seemed to be an official ReportCyber reference number.
Upon seeing the verification report submitted by the scammers, the victims found the situation credible. They then received a follow-up call from someone posing as a crypto platform urging them to transfer assets to a fake cold storage wallet using the same reference number.
The victim, however, became suspicious and hung up before completing the transaction. Authorities indicated that in similar incidents, scammers often use fake phone numbers that mimic real AFP contact numbers.
Mr. Anderson urged the public to be cautious, suggesting that Australians should “look for warning signs and protect yourself.”
The law enforcement officials made it very clear that authentic representatives will never ask for access to cryptocurrency accounts, seed phrases, or banking details.
Anyone approached to file a ReportCyber they didn’t initiate should terminate the call and reach out to 1300 CYBER1. Anderson emphasized the importance of valid reports for police to “track down criminals and prevent further victimization.”
Crackdown on cryptocurrency fraud
This warning coincides with intensified efforts by Australian regulators to tackle scams related to cryptocurrency on various fronts.
Last month, Home Secretary Tony Burke announced upcoming legislation aimed at regulating virtual currency ATMs, categorizing these machines as “high-risk products” due to their links to money laundering and child exploitation.
In August, the Australian Securities and Investments Commission reported that around 3,015 cryptocurrency fraud websites had been removed, contributing to a total of 14,000 fraudulent sites taken down over the last two years.
Meanwhile, Brendan Thomas, head of the financial intelligence agency AUSTRAC, labeled digital currencies as among the leading threats. In July, he noted that the new anti-money laundering regulations represent “the most ambitious overhaul of Australia’s anti-money laundering laws in a generation.”
