Money laundering occurs when money is obtained through illegal activities, such as fraud, terrorist and fraudulent activities and cybercrime and the intent is to hide the source of the money and make it seem like they were obtained through legal means. Examples of money laundering have changed over the years. A lot of the time criminals work for businesses with a lot of revenue from various…

Superannuation fraud involves false claims made by a criminal in an attempt to steal money from an individual’s superannuation account. The possibility of superannuation fraud increased greatly during the pandemic as the requirements temporarily changed. Uncertainty was high about what people could and could not do and this caused a lot of confusion, which fraudsters benefited from. In 2020, one…

Investment fraud is the act of tricking individuals into thinking they are going to receive large amounts of money with little to no risk if they make an investment. When the investors try to claim the money, they realise that the big payout they were promised does not exist and their money was not used for their benefit. Scammers usually provide a proposition that is too good to be true to…

Embezzlement occurs when an individual is entrusted with assets that they misappropriate or steal for their own benefit. The individual has access to assets and uses it to take control of properties that are not their own and possess them illegally. Embezzlement happens without consent and it is a form of white-collar crime as there is the intention to misuse the money or property. The…