Woman’s brazen $200k superannuation fraud
Written by admin on September 21, 2024
A woman has been jailed after she illegally obtained more than $202,000 through the early release of superannuation benefits.
The 39-year-old submitted 30 false severe financial hardships claims for herself and 24 others between April 2019 and April 2020.
The claims for early access to superannuation resulted in payments of $10,000 each.
An Australian Federal Police investigation revealed the resident of High Wycombe, in Perth’s southeast, had scammed a total of more than $202,000 in hardship payments over the 13 months.
After she received a successful payment in her own applications, she would transfer the remaining balance of her super into another fund before making another hardship application.
The woman was also paid a fee for the applications she created and submitted and received almost $11,000 in service fees through the illegal scheme.
Authorities discovered she had illegally used the details of professionals such as teachers, nurses, doctors and pharmacists to falsely certify documents and statutory declarations.
The fraudulent activity was uncovered in 2020 after the AFP received a tip off from the Serious Financial Crime Taskforce, which had identified multiple Western Australians who had allegedly tried to illegally obtain an early release of superannuation benefits.
Under current legislation, people are able to access a portion of their superannuation savings before retirement under limited circumstances, such as financial hardship and compassionate grounds.
The criteria was expanded in 2020 to include financial hardship due to Covid-19.
The AFP searched the woman’s home in May 2020 and found business identification and certification stamps as well as other evidence.
She pleaded guilty to 30 charges in November, including 27 counts of fraud and three counts of attempted fraud.
The 39-year-old was sentenced to three years imprisonment in the Perth District Court this week, with a non parole period of 18 months.
AFP Detective Superintendent Peter Chwal said the AFP worked closely with Commonwealth and state law enforcement partners to stamp out fraud and identify anyone who tried to exploit government support.
“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 this case demonstrated the taskforce’s ability to deliver a government response to target criminal behaviour.
“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.”
