Woman lands in jail over bold $200,000 superannuation scam
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In a cautionary tale for all, a woman's audacious scheme to defraud the superannuation system has landed her behind bars.
The 39-year-old from High Wycombe, Perth, orchestrated a scam that saw her illegally access over $200,000 in superannuation benefits, exploiting the system designed to provide financial relief under severe hardship conditions.
Between April 2019 and April 2020, the woman submitted a staggering 30 false claims of severe financial hardship for herself and 24 others, each resulting in a $10,000 payout.
Her method was cunning: after a successful claim, she would transfer the remaining balance of her super to another fund to make a subsequent hardship application.
She charged a fee for the applications she created and submitted for others, amassing almost $11,000 in service fees through her illicit operation.
The scam was sophisticated, involving the illegal use of professionals' details, such as those of teachers, nurses, doctors, and pharmacists, to falsely certify documents and statutory declarations.
It wasn't until the Serious Financial Crime Taskforce tipped off the Australian Federal Police (AFP) that the fraudulent activity came to light.
This revealed multiple Western Australians who had allegedly tried to illegally obtain early superannuation releases.
The superannuation system in Australia allows individuals to access their savings before retirement under specific circumstances, such as financial hardship or on compassionate grounds.
In 2020, the criteria expanded to include financial hardship due to the COVID-19 pandemic, which may have provided additional cover for the woman's fraudulent activities.
When the AFP raided her home in May 2020, they discovered business identification and certification stamps among other incriminating evidence.
The woman eventually pleaded guilty to 30 charges, including 27 counts of fraud and three counts of attempted fraud.
The Perth District Court sentenced her to three years in prison, with a non-parole period of 18 months.
AFP Detective Superintendent Peter Chwal stated that the AFP collaborated closely with Commonwealth and state law enforcement agencies to track down those attempting to abuse government assistance.
‘It is important to protect the integrity of financial support programs to ensure funds are only dispersed when people genuinely need them or can legitimately access them,’ he said.
ATO Serious Financial Crime Taskforce Chief and Deputy Commissioner John Ford said the case highlighted how the task force can respond to and address criminal activity.
‘This outcome sends a clear message to the community that we do bring those who exploit the tax and super system to account, particularly those who encourage and then benefit from others committing offences,’ he said.
‘We have robust systems in place that stop this sort of crime.’
Members, have you ever encountered a superannuation scam, or do you have tips on how to stay safe from such fraudulent activities? Share your experiences and advice in the comments below.
The 39-year-old from High Wycombe, Perth, orchestrated a scam that saw her illegally access over $200,000 in superannuation benefits, exploiting the system designed to provide financial relief under severe hardship conditions.
Between April 2019 and April 2020, the woman submitted a staggering 30 false claims of severe financial hardship for herself and 24 others, each resulting in a $10,000 payout.
Her method was cunning: after a successful claim, she would transfer the remaining balance of her super to another fund to make a subsequent hardship application.
She charged a fee for the applications she created and submitted for others, amassing almost $11,000 in service fees through her illicit operation.
A woman submitted over 30 false claims of severe financial hardship, each resulting in a $10,000 payout. Credit: Shutterstock
The scam was sophisticated, involving the illegal use of professionals' details, such as those of teachers, nurses, doctors, and pharmacists, to falsely certify documents and statutory declarations.
It wasn't until the Serious Financial Crime Taskforce tipped off the Australian Federal Police (AFP) that the fraudulent activity came to light.
This revealed multiple Western Australians who had allegedly tried to illegally obtain early superannuation releases.
The superannuation system in Australia allows individuals to access their savings before retirement under specific circumstances, such as financial hardship or on compassionate grounds.
In 2020, the criteria expanded to include financial hardship due to the COVID-19 pandemic, which may have provided additional cover for the woman's fraudulent activities.
When the AFP raided her home in May 2020, they discovered business identification and certification stamps among other incriminating evidence.
The woman eventually pleaded guilty to 30 charges, including 27 counts of fraud and three counts of attempted fraud.
The Perth District Court sentenced her to three years in prison, with a non-parole period of 18 months.
AFP Detective Superintendent Peter Chwal stated that the AFP collaborated closely with Commonwealth and state law enforcement agencies to track down those attempting to abuse government assistance.
‘It is important to protect the integrity of financial support programs to ensure funds are only dispersed when people genuinely need them or can legitimately access them,’ he said.
ATO Serious Financial Crime Taskforce Chief and Deputy Commissioner John Ford said the case highlighted how the task force can respond to and address criminal activity.
‘This outcome sends a clear message to the community that we do bring those who exploit the tax and super system to account, particularly those who encourage and then benefit from others committing offences,’ he said.
‘We have robust systems in place that stop this sort of crime.’
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