Criminal syndicates are targeting international students leaving Australia, offering quick cash for their bank accounts and identity documents in schemes that could tie them to major money-laundering crimes, according to the Australian Federal Police (AFP).
Students preparing to return home are being approached with offers of a few hundred dollars upfront — plus commission — to hand over access to their bank accounts.
Others are being asked to sell passports, driver’s licences and other ID documents.
Authorities are issuing strong warnings about the illegal and risky nature of certain financial schemes targeting students, which could entangle them in extensive scam networks across Australia.
The Joint Policing Cybercrime Coordination Centre, led by the Australian Federal Police (AFP), has highlighted a troubling trend where students are being approached with offers of between $200 to $500 to share access to their bank accounts. In addition, they are promised a 10% cut from the funds criminals subsequently launder through these accounts.
These seemingly benign opportunities for quick cash aren’t as innocent as they appear. “What might seem like a simple favor or an effortless way to earn money can actually lead to serious repercussions, including criminal charges, visa cancellations, and permanent bans from re-entering Australia,” explained a spokesperson.
Identity documents that are bought are often used to open new accounts tied to victims’ names.
AFP detective superintendent Marie Andersson said criminals use these accounts to impersonate real people or scam the life savings of vulnerable Australians, meaning students could find themselves indelibly linked to crime networks.
The exploitation of student bank accounts allows criminal organizations to transfer larger sums of money with minimal scrutiny. This is achieved by circumventing daily transaction limits, increasing the number of accounts under their control, and using already verified personal profiles to disguise their laundering operations, as detailed in the financial crime guide from June 2024.
“We are seeing criminal networks overseas launder millions through bank accounts belonging to young people, and as a result, they too could be charged with offences like money laundering.
“When students sell their details, they’re not only risking prosecution; they’re also enabling real harm to innocent people.”
Financial intelligence agency AUSTRAC has warned international students are considered a high-risk group for recruitment, noting criminal networks deliberately target those about to leave Australia or those seeking a means to earn money while living in Australia.
It’s crucial to note that involvement in money laundering carries severe consequences in Australia, with penalties reaching up to life imprisonment.
Criminals also lure students into becoming money mules through fraudulent job offers, romance scams and fake online advertisements, according to the Australian Banking Association.
Money laundering carries a maximum penalty of life imprisonment in Australia.
Campaign urges students to protect their identity
The AFP is urging international students to understand the seriousness of selling or sharing their identity.
Andersson said many students don’t realise they are being exploited.
“But once caught, it’s the student who faces the consequences,” Andersson said.
“Before leaving Australia, we urge students to close their local bank accounts, secure their digital and personal identity, and never sell or share their details with anyone.
“Your identity isn’t just paperwork — it’s your responsibility.
“Leaving the country doesn’t erase your digital footprint. Your bank accounts, name and identity are traceable by police around the world, and you’ll still be connected to any crimes to which you are tied or responsible.”
Anyone offered money for their accounts or information is urged to report it to ReportCyber.gov.au.
To protect themselves from falling victim, the AFP advises students to follow three simple rules:
1. Don’t share banking and personal details with anyone you don’t know or trust.
2. If someone asks to use or ‘borrow’ your bank account, say no.
3. If you suspect something is not right, reject the offer.
