A woman has been charged after allegedly illegally changing cash for cryptocurrency, in what is believed to be the first case of its kind in Australia.
The 52-year-old was arrested at a shopping centre in Burwood, in Sydney’s inner-west, yesterday.She is accused of being part of a syndicate profiting off the unlawful exchange of Bitcoin, and yesterday NSW Police seized $60,000 in cash and 3.8 Bitcoin.
The woman was charged with three counts of knowingly dealing with proceeds of crime, and breaching a requirement regarding digital currency exchange services.
The investigation began in November 2018, when detectives from the State Crime Command’s Cybercrime Squad established Strike Force Kerriwah to investigate an online money laundering syndicate operating across NSW, unlawfully exchanging cash for cryptocurrency.
“It will be alleged as part of this investigation that the cryptocurrency wallet used by the individuals involved has transacted since 2017 over 326 Bitcoin,” Detective Superintendent Matthew Craft, Cybercrime Squad Commander, said today.
Source: 9News Australia