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Home » Counterfeit identification used to register for cryptocurrency exchanges results in a 2year jail term
Counterfeit identification used to register for cryptocurrency exchanges results in a 2year jail term
Counterfeit identification used to register for cryptocurrency exchanges results in a 2year jail term

Counterfeit identification used to register for cryptocurrency exchanges results in a 2year jail term

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By admin on 2024-06-21 Regulations Security

An Australian man has been handed a two-year prison sentence for engaging in cyber-enabled identity theft, which involved the use of forged documents to establish online cryptocurrency accounts.

The Australian Federal Police (AFP) disclosed on June 21 that a 31-year-old Australian man was sentenced at the Melbourne County Court. The man was arrested following an international probe into a website that was selling technology to facilitate fraud, resulting in the theft of over 1 million Australian dollars ($670,000) from victims.

Operation Stonefish uncovers cybercrime network
Operation Stonefish was initiated by the AFP in August 2022 after authorities in the United Kingdom looked into a website that offered spoofing services for as little as 20 British pounds. This website enabled identity theft and financial fraud.

Report Cyber, a cybercrime reporting platform run by the Australian Commonwealth Government, received a complaint from a victim in New South Wales regarding the unauthorized creation of a bank account.

Source: Australian Federal Police
The AFP’s investigation revealed that the Australian man had set up accounts on two cryptocurrency exchanges using fake driver’s licenses that contained the details of real victims but had the man’s photo.

Arrest and evidence seizure
In November 2022, AFP officers carried out a search warrant at the man’s residence in Boronia. They seized blank and forged driver’s licenses, a lost passport, and a variety of cards bearing other people’s names.

Authorities also discovered an encrypted messaging platform on the man’s computer that contained conversations about identity-related crimes and guides on crafting fake documents. The man declined to provide access codes to his devices during the search.

Detective Superintendent Tim Stainton stressed the serious consequences of identity theft, stating:
“The theft of an identity and the use of counterfeit documents can wreak havoc on people’s lives if sold online or utilized for criminal activities,” Stainton emphasized.

Conviction and sentencing
The Australian man was found guilty on multiple charges under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the Criminal Code of the country. These charges included providing false information, handling proceeds of crime, producing and possessing counterfeit documents, and failing to comply with a court order.

He was handed a two-year prison term, with a non-parole period of 10 months. Authorities highlighted that this case underscores the widespread repercussions of cyber-enabled identity theft and the significance of international collaboration in combating such crimes.

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