NSW: Police program to reduce billion-dollar fraud crime

AAP General News (Australia)
08-23-2007
NSW: Police program to reduce billion-dollar fraud crime

by Andrew Drummond

SYDNEY, Aug 23 AAP - Australia's billion-dollar-a-year fraud industry is stinging a
growing number of innocent people, police say.

The escalating rate of fraud, most commonly involving internet investment scams, has
prompted police around the country to join forces and develop a community education scheme.

"We are seeing people lose their life savings, their houses, their businesses, their
families, sometimes their lives, all as a result of being the victim of fraud," Queensland
police Detective Inspector Brian Hay told reporters in Sydney today.

Insp Hay, considered Australia's leading fraud expert, said hundreds of thousands of
dollars had already been saved through the establishment of the Security Awareness and
Fraud Education (SAFE) program.

"The level of sophistication ... of fraud is at an all time high and if left unabated
will definitely increase," he said.

"An enormous number of Australians are being drawn into elaborate and devious schemes
each year, schemes that only want one thing ... to steal from you ... your money, your
identity or too often, both.

"I've got countless stories from people who have been sending money for up to 15 years
to people they haven't even met."

The results of fraud research undertaken by money transfer business Western Union show
the victims of fraud are often intelligent, educated people.

One such victim is NSW businessman Andrew Kennedy who invested in a Nigerian scheme
in 1999 after meeting a man who presented "paperwork and proof of the deal".

"I am seeking justice through the courts, but the process is long," Mr Kennedy said.

"It has taken seven years of my life, and cost me $1.2 million. But more than anything
it has exhausted me emotionally."

Western Union regional vice-president Paul Crawford said people should seek advice
if they were in doubt about a transaction.

"You should think twice if you don't know the person you are sending money to, if they
have asked you to keep dealings secret or if you have been asked to forward funds transferred
into your account by someone you don't know," he said.

The SAFE program aims to educate consumers about the different types of fraud and highlights
popular scams.

The program has the support of nation wide police, Western Union, internet shopping
site eBay, and major banks.

In addition to advertisements in print media, it includes two websites - www.ebay.com.au/securitycentre
and www.westernunion.com.au/info/fraudindex.

Anyone with information about frauds and scams should call the police Crime Stoppers
line on 1800 333 000.

AAP ad/wjf/maur/de

KEYWORD: FRAUD

2007 AAP Information Services Pty Limited (AAP) or its Licensors.