Two people have been charged over the alleged money laundering scheme.
Police will allege in court the pair were part of a joint criminal syndicate, that would fraudulently obtain the damaged coins and import them into Australia.
It will be further alleged the syndicate then laundered the coins through smart ATMs throughout Sydney and deposited sums of money into several bank accounts before the proceeds were sent offshore. It's estimated the syndicate has fraudulently obtained more than $1 million through the scheme since August 2022, police claim."This syndicate attempted to avoid detection by going to various different ATMs in Sydney and depositing varying amounts of cash on a daily basis," Detective Superintendent Peter Faux said.
"We do not believe the coins are counterfeit, however, believe they are not legal tender. We will continue to work with our partners, including the Royal Australian Mint, to determine the extent of this syndicate's reach." When coins are damaged, they are taken out of circulation and are viewed as no longer legal tender in Australia.to receive our daily newsletters and breaking news alerts, sent straight to your inbox.
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