Stay safe from money laundering schemes targeting migrant communities

What is Cuckoo smurfing?

Cuckoo smurfing is where criminals use money generated by illegal activities appear to have come from a legitimate source. Criminals often use professional money launderers to target bank accounts of people receiving money transfers in Australia.

It works by someone overseas using a money transfer business to send money to an Australian bank account. A money transfer business is a third-party business who facilitates the transfer of funds between bank accounts, domestically or internationally. Instead of sending the money to Australia, the money transfer business gives the transaction details to a money laundering syndicate. The criminal syndicate then arranges for different money to be deposited in the original intended bank account. The money transfer business then gives the criminal syndicate access to the original money.

Often the person sending the funds, and the person receiving it, are unaware that they are involved in a money laundering scheme.

If you’re expecting money from overseas, learn how to spot the warning signs

If you’re expecting to receive money from overseas, look out for the funds appearing in your account in an unexpected way, including:

• Multiple cash deposits for amounts under $10,000
• Multiple cash deposits made on the same day or within a short period
• Cash deposits made across various branches and ATMs, including across different states
• Cash deposits from multiple third parties¹

If you notice any unexpected activity or are unsure about any activity in your bank account, please contact us. If you don’t report it, you could face the prospect of criminal prosecution, confiscation of the funds or your bank closing your accounts.

How to protect yourself

If you're planning to send or receive money from overseas, only use legitimate financial institutions or money transfer businesses. If your friends and family are sending money, encourage them to use trusted options too.

A money mule is a person who receives money from a third party into their bank account and transfers it to another account, often in return for a commission or other financial benefit. If you’re asked to transfer or deposit funds to another account on behalf of someone else, you could be involved in money muling.

Signs to look out for

• Have you been contacted unexpectedly and offered an easy job that will make you quick money?
• Does the job offer ask you to transfer or deposit money and keep a commission?
• Have you been threatened to send funds (received from someone else or your own money) to another account?
• Have you been offered money to sell your account to someone else?

If you answered yes to any of the above, you may have been targeted as a money mule. It’s important you contact us to report it so we can help keep you and the community safe. As part of Australian anti-money laundering and counter terrorism financing laws, this is considered criminal activity. Even if you’re unaware, you could still be criminally prosecuted.