Media Release

Fraud involving dishonoured cheques

Queensland Police are warning the public of a currency exchange scam, targeting members of the Korean community. 

Police have received a number of complaints from individuals of the Korean community, particularly international students and visitors on working holiday visas.

Acting Detective Superintendent Mark Ainsworth of the State Crime Operations Command Organised Crime Group warned the public to be vigilant when making transactions from their bank accounts. 

“The scam involves a currency exchange service which is offered via the internet through Korean based websites and other community media.

The currency exchange is offered as risk-free with promises money to be exchanged will be deposited into the victim’s account prior to the victim being required to transfer funds out of their account.

Once the victim’s funds have been electronically transferred into the offender’s account, the initial deposit (made mostly by cheque and now sitting in the victim’s account) will be dishonoured or withdrawn. Victim’s have been cheated out of some significant amounts with this scam,” Acting Detective Superintendent Ainsworth said.

Police from the Organised Crime Group – Asian Specialist Unit are investigating the complaints as part of Operation Hotel Tidal and are examining the links between the various complaints.  Police are also liaising with other jurisdictions.

Police urge for those who have been a victim to a money exchange scam of this nature to report it to police.

Tips for the public include:

• Do not respond to any advertisements on the internet which offer “risk-free” or easy money making opportunities.
• Do not advertise for money exchange
• Do not provide your personal details on internet sites
• Always deal with established and reputable banking institutions and money exchangers.
• Never disclose any personal details (including bank account details, PIN numbers, account names, numbers or passport details)
• Never send money or make payments to a person you don’t know.

If you are aware of anyone involved in fraud involving dishonoured or cancelled cheques contact your local police station, Asian Specialist Unit 3364 6528 or Crime Stoppers on 1800 333 000.