Investigation underway after property settlement BEC scam - Cybercrime

Monday, 06 September 2021 04:06:01 AM

Detectives investigating a business email compromise (BEC) scam in Sydney’s North Shore last year have released CCTV images as part of an appeal for public assistance.

In November 2020, detectives from State Crime Command’s Cybercrime Squad were notified after funds had been electronically transferred into a fraudulent account during the settlement period of a property sale.

Further inquiries under Strike Force Urban revealed the recipient’s account details had been sourced from a compromised email address containing altered banking details.

As investigations continue, detectives have released CCTV images of two men who they believe may be able to assist with inquiries and are appealing for anyone with relevant information to come forward.

Cybercrime Squad’s Detective Inspector Ian Wright urged the community to look closely at the CCTV.

“Detectives investigating this incident believe the two men depicted in these images may be able to assist police with their ongoing inquiries,” Det Insp Wright said.

“The settlement of property, particularly in Sydney, generally involves large amounts of money and the funds taken in this instance are significant.

“We know these scams often target private businesses and government agencies; but a growing number are individuals and families scammed out of their hard-earned cash, as we’ve seen here.

“Any information from people in the community about BEC scams is valuable to investigators and will help police hold those responsible to account,” Det Insp Wright said.

Anyone with information that may assist Strike Force Urban investigators is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is treated in strict confidence. The public is reminded not to report information via NSW Police social media pages.