Security News > 2020 > February > Cybercrooks busted for multimillion-dollar identity fraud
A trio of Australians has been charged with identity theft that netted AU$11 million - ill-gotten loot they allegedly ripped off by hacking into businesses and modifying their payrolls, pension payments and credit card details.
New South Wales police reportedly said that the unidentified 31-year-old man allegedly stole more than 80 personal and financial profiles so as to use them in identity fraud in South Australia from early 2019, and then in NSW from August 2019.
According to ABC News, the police prosecutor, Senior Sergeant Mike Tolson, told the court that the prosecution anticipates bringing hundreds of additional charges.
The defendants allegedly used the details to set up hundreds of bank accounts into which they then allegedly deposited money.
All of the stolen identity has come from intruding upon businesses.