Fake ID crypto exchange sign-ups attract 2-year prison sentence

Ezra Reguerra1 hour agoFake ID crypto exchange sign-ups attract 2-year prison sentenceAustralian authorities sentenced a man who had used other people’s identities to open accounts on crypto exchanges.640 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksAn Australian man has been sentenced to two years in prison for cyber-enabled identity theft, including using fake documents to create online cryptocurrency accounts. 

On June 21, the Australian Federal Police (AFP) reported that a 31-year-old Aussie man was sentenced at the Melbourne County Court. The man was charged following an international investigation into a website selling fraud-enabling technology linked to over 1 million Australian dollars ($670,000) theft from victims.Operation Stonefish unveils cybercrime network

The AFP launched its Operation Stonefish in August 2022 after United Kingdom authorities investigated a website offering spoofing services for as little as 20 British pounds. The site facilitated identity theft and financial fraud.

Report Cyber, an Australian Commonwealth Government site for cybercrime reporting, received a complaint from a victim in New South Wales about an unauthorized bank account creation.Source: Australian Federal Police

AFP inquiries revealed that the Australian man opened accounts on two cryptocurrency exchanges using fake driver’s licenses with the real victims’ details and his own photo.Arrest and evidence seizure

In November 2022, AFP officers executed a search warrant at the man’s home in Boronia. They seized blank and fake driver’s licenses, a lost passport and various cards in other people’s names.

The authorities also found an encrypted messaging platform on the man’s computer containing discussions about identity-based crime and instruction manuals on creating false documents. The man refused to provide access codes to his devices during the search.

Detective Superintendent Tim Stainton emphasized the severe impact of identity theft. He said:“The theft of someone’s identity can have serious implications for victims and is a serious criminal offense punishable by significant time in prison.”

“A stolen identity and the use of associated fraudulent documentation can have a devastating impact on people’s lives if sold online or used for criminal purposes,” Stainton added.

Related:Cop intercepts $40K Bitcoin ATM scam by Chase Bank impersonatorConviction and sentencing

The Australian man was convicted of several charges under the country’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the Criminal Code. These included providing false information, dealing with proceeds of crime, producing and possessing false documents and failing to comply with a court order.

He was sentenced to two years imprisonment, with a 10-month non-parole period. The authorities highlighted that the case underscores the far-reaching consequences of cyber-enabled identity theft and the importance of international cooperation in combating such crimes.

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