• Young people looking for cash in hand work. 
• The ATO / Society at large
• Other workers who are unwilling to participate in unsafe/illegal practices and as result are unable to find employment

• Potential underpayment relative to an award or EA
• Potential unpaid penalty rates
• Potential unpaid superannuation
• Potential lack annual leave entitlement
• Potential lack of sick leave entitelment
• Potential unpaid tax liability for the worker
• Potential unpaid income tax due to the ATO
• Potential unpaid payroll tax due to the relevance state revenue office
• Potential overpayments of benefits to the cash in hand worker
  
  

• Lack of Occupational Health and Safety
• Potential unsafe practices
• Potential to deny worker their rights as an employee
• Potential percivied lack of recourse when OH&S incidents occurs due to employee being part of the black economy 
• Reduced job security

1. Victims:  Dea and Jamie 
2. $8,500 from Victims Joint Savings account
3.  Non-Monetary losses include time spent attempting to remediate the issue and potential psychological impacts from the event occuring.

• The brands which were counterfeit
• Etsy's shareholders
• Buyers of the counterfeit goods who believed they were legitimate 
• Legitimate sellers on Etsy, due to the reputational impact of being associated with counterfeiting

• Etsy's shares dropped 8.4% when the scandal was announced
• Etsy posted a loss in Q3 of 2022
• Loss of revenue for legitimate brands

• Reputational damage to Etsy
• Loss of customer base for legitimate sellers

• hospitals
• schools
• roads.

• Consumers
• Brands/Business

• According to the article, some estimates state the trade of fake products is worth $600bn per year

• Impact on the brand/business image
• Increase in potential scam/fraud 
• Consumer identity (e.g. self esteem, confidence) 

1. Who were the victims of the crime?
   The victims of this illegal phoenixing scheme were primarily the creditors and suppliers associated with Smith Electrical Services Pty Ltd. These included subcontractors, employees, banks, and other businesses that were owed money by the company.
2. What was the impact of the crime in terms of monetary losses?
   The impact of the crime resulted in significant monetary losses for the victims. Smith Electrical Services Pty Ltd deliberately transferred its assets, including cash, equipment, and contracts, to a new entity called Johnson Electrical Solutions Pty Ltd, without fulfilling its financial obligations to the creditors. As a result, the creditors were left with unpaid invoices and debts, leading to financial losses that could potentially amount to hundreds of thousands or even millions of dollars.
3. What non-monetary losses did you identify?
   In addition to monetary losses, there are several non-monetary losses that can be identified in this scenario:

• Reputational damage: The creditors and suppliers who were left unpaid may suffer reputational damage due to their association with the illegal phoenixing case. This can negatively impact their relationships with other clients and stakeholders.
• Employee hardships: If Smith Electrical Services Pty Ltd had employees, they would have been affected by the illegal phoenixing. Employees may have lost their jobs, faced financial difficulties, and experienced uncertainty and stress due to sudden closure or transfer to the new entity.
• Loss of trust: Illegal phoenixing undermines trust in the business community. Other businesses may become wary of entering into contracts or providing services to similar entities, fearing they could also fall victim to similar fraudulent practices.
• Legal consequences: The individuals behind the illegal phoenixing scheme may face legal consequences, such as fines, penalties, and potential criminal charges. This can have personal and professional ramifications for them.

• Australian businesses that were targeted by email hackers
• Included businesses such as: an engineering firm, a French equipment Leasing company, a Sydney based aged home care facility, a Western Australian mining waste disposal company, and an animal feed supplier in SA
• Whilst not the direct victim of this reportable crime, the perpetrator herself was once a victim of scammers

• An estimated $2.4M (AUD) was laundered for the email hacking scammers
• Single highest criminal transaction was $1.164M, with transactions ranging from $1K - $1M

• Impact to operations for impacted business
• Flow on impact to customers and services rendered, such as for those in the aged care facility which are already vulnerable. 
• Possible deportation of Ms Eckl upon completion of jail time (up to 5.5 years)
• Significant emotional damage to family members, such as 80yr old husband.

• According to the U.N.-backed International Labor Organization (ILO) it is estimated that some 40 million people have been affected by this industry, both willingly in terms of trying to make a better life for themselves, and in other instances, taken advantage of by illicit organized criminal gangs.  
• According to UNODC’s 2020 Global Report on Trafficking in Persons which is compiled using official figures from over 148 countries, female victims continue to be the primary targets. The Report shows that in 2018 46 percent of detected victims were women and 19 percent girls. For male victims the Report shows that 20 per cent of detected victims were men and 15 per cent were boys. 
• The Report also shows that the share of children among detected trafficking victims has tripled while the share of boys has increased five times over the past 15 years. Globally, one in every three victims detected is a child. Girls are mainly trafficked for sexual exploitation, while boys are used for forced labour. The share of detected male victims has risen from around 10 per cent in 2003 to 20 per cent in 2018.

• In a 2014 ILO report, human trafficking earns a profit of nearly $150 billion annually, with more than half of the profits coming from sexual exploitation.
• That makes the sex and labor trafficking industry second only to drug trafficking as the world’s largest criminal industry, according to ILO and the nonprofit Polaris Project, key figures not lost on global watchdog groups, domestic and international investigative agencies and international banking groups. 
• The White Lace Case consisted of a human trafficking ring that generated approximately $7 million in Los Angeles from 2000 to 2002. It was the first time that money laundering was charged in a prostitution case by the LAPD (Los Angeles Police Department). The small amount of money made by the victims was transferred to their homes in the former Soviet Union through wire transfers. The millions in profits made by the manager of the trafficking ring were invested in real estate in the Los Angeles area and wired to Switzerland.  

• Loss of personal freedom and self esteem of victims
• Loss of trust in individuals and instirutions
• In some cases loss of life

• Fake identification or a passport
• Fraudulent credit card accounts
• Fake bank accounts
• False loan applications
• Fraudulent withdrawals
• Fraudulent transactions

• Employees and their dependables.
• Suppliers
• Contractors & Subcontractors.
• Tax payers & the greater community. 

• Employees, contractors, and subcontractors who miss out on wages, super, and other entitlements. 
• Suppliers who may experience financial stress or go out of business due to non-payment. 
• Tax payers & the community due to the tax fraud + the resources spent on the SFCT task force. 

• Negative mental impact to victims and their families.
• Distrust in the government & community may be felt by those affected.
• Waste of human resources/time due to repeated obstruction of Commonwealth officials. 

1. Victims - Australian Tax payers and individuals affected by the payment claim scam.

2. Monetary loss - more than $130,000 in covid support payments

3. Non monetary losses - stolen several identities in the process

a. ATO and Government.

b. Financial/economic system

c. Employees of fraudulent companies (unpaid entitlements)

d. Clients. (over charging)

e. Acquaintances (exploited and used as mules).

2. What was the impact of the crime in terms of monetary losses?

a. $4,632,355 defrauding of the Commonwealth and $23,131,414 withdrawn from the entities over a 25month period.

b. Impact on government spending on essential services and facilities.

3. What non-monetary loses did you identify?

a. Financial stability - economic stability (loss of jobs, distrust).

b. Emotional distress for the employees and those exploited to move cash around.

College and High School Students. Article states Indiana University Sophomore Josh as a victim of illegal gambling. He started gambling when he was 14. 

2. What was the impact of the crimes in terms of monetary losses? 

Initially $3,000 before his parents were involved and he had to seek help from a gambling counsellor. However he ended racking up over $8,000 in debts. He had to put his laptop as collateral as he had started to bet using credit from the site. 

3. What Non-Monetary Losses did you Identify? 

Young children and adults are being coerced by other children and by social media  to enter the gambling scene. Offshore betting books don’t care about age or gambling addicts and are usually operated in countries that have limited regulations.  Most illegal gambling sites are run by criminal organisations so young adults/children are being exposed to criminal activities and have the potential to be threatened by these groups. 

of the crime? Individuals that were legitimately eligible to receive the income support payments are the victims as they would have potentially missed out on receiving them in place of the criminal. Tax payers as well are victims as the funds that would have been used in the community have been fraudulently obtained and used. Individuals who also had their ID stolen for the claims are victims.

2. What was the impact of the crime in terms of monetary losses? Fraudulent claims of more than $130,000 in COVID-19 Disaster Payments and Pandemic Leave Disaster Payments. Stolen identity of individuals who now must recover from the losses.

3. What non-monetary losses did you identify? The emotional trauma of the individuals who had their ID stolen for the fraudulent claims is a non-monetary loss. There are also impacts to the communities who do not receive the benefits in place to support them during times of crisis.

2.     What was the impact of the crime in terms of monetary losses? Poor money laundering controls and breaching sanctions amongst a number of countries (including but not limited to) Iran. Standard Chartered processed transactions worth $438m between 2009 and 2014, the majority of which involved Iran-linked accounts from its Dubai branch routing payments through, or to, its New York office or other US-based banks.

-         StanChart argues for cutting 'systemic' sanctions busting claims from lawsuit | Reuters

-         Standard Chartered fined $1.1bn for money-laundering and sanctions breaches | Standard Chartered | The Guardian

of the crime?

An individual employeed hairdresser

Her partner (as negative credit rating was impacting mortgage applications)

2. What was the impact of the crime in terms of monetary losses?

 Undisclosed total amount but $200 from weekly salary possibly for up to 3 years ($33,600)

3. What 

non-monetary losses did you identify?Time

Negative impact on credit rating

Frustration – contacting all providers but not getting anywhere

Anxious

Exposed

Exhausted

A semi retired Melbourne based couple

2. What was the impact of the crime in terms of Monetary Losses?

   The couple had lost minimum $325,000 in their bank accounts, Shares were depleted by $45,000 and there were 20 credit and debits established in their names

3. What non-monetary losses did you identify?

   The couple experienced significant stress and worry. There was a lot of uncertainty in what was going to happen to them. There has been significant impact to the couple's mental health

   Some of the financial institutions also lost the couple's trust in being difficult to deal and also giving a sense of victim blaming

The Australian Taxation Office and the rest of the community.

·         What was the impact of the crime in terms of monetary losses?
As a result of understating her business income the individual failed to declare close to $4million dollars in business income, this has a huge impact on the ability for the government to follow on with their duty for the community (i.e. using tax payments to improve infrastructure, education, transport etc…)

·         What non-monetary losses did you identify?
Those who participate in the cash and shadow economy are disadvantaging the community, honest taxpayers and honest businesses by not competing fairly. This will also impact the employee's morale working for this business as soon as they find out that their employer has not been conducting business fairly and using tax money for her own personal interest.

Source: https://www.ato.gov.au/about-ato/tax-avoidance/the-fight-against-tax-crime/our-focus/serious-financial-crime-taskforce/taskforce-action-on-electronic-sales-suppression-tools

2.      What was the impact of the crime in terms of monetary losses?

$500 for a vehicle part, $400 for a puppy, $1000 for a puppy, $2700 for a sleepout and $460 for bullbars.

3.      What non-monetary losses did you identify?

One victim had suffered mentally and financially, she said in a statement read by a victim advisor. "I was so excited about getting a puppy."

of the crime? John and Julie - a semi-retired couple from Melbourne who were going on an overseas holiday.

2. What was the impact of the crime in terms of monetary losses? $370,000 across a range of accounts and credit cards.

3. What 

non-monetary losses did you identify? Potential brand damage as the fraudsters contacted the couple's work clients posing as John, requesting money. Mental health - stress, anxiety. Loss of time spent dealing with various financial institutions to solve the issue.

of the crime?

Various people in the community, including those with drug addictions and their families.

2. What was the impact of the crime in terms of monetary losses?

There will be court prosecution costs and potential prison costs.

Rehabilitation for those who who participated in the crime and their victims.

"The seizures included 5kg of methamphetamine, 3.5kg of cocaine, three firearms (pistol, shotgun and rifle), an $80,000 stolen vehicle, jewellery and more than $500,000 in cash.

The cocaine and meth have an estimated street value of almost $3 million. This equates to 235,000 doses and an estimated $5.5 million of social harm."

3. What 

non-monetary losses did you identify?

24 people were charged for their part in the drug distribution ring.

Rehabilitation for those who who participated in the crime and their victims.

"Disrupting a substantial Class A drug supply chain and holding to account those responsible for distributing serious harm into our communities,”

The investigation time and the prosecution time. "Police specialist groups have deployed more than 100 officers at a time in order to bust the drug ring over the past four weeks."

"Police investigations are ongoing. Thomson said more searches or arrests are not being ruled out."

(Also occurs cost).

of the crime?

banks, lenders, Small Industries Development Bank of India.

2. What was the impact of the crime in terms of monetary losses?

• The IL&FS group operated over a hundred subsidiaries and is sitting on a debt of Rs 94,000 crore.

• The bankruptcy cases wiped out Rs.8.48 lakh crore of investor’s wealth.

• Commercial Paper worth Rs 300 Crores was sold at a discounted price, which belonged to DHFL.

• Share market got affected because anxious retail investors started selling shares of other NBFCs and redeemed from mutual funds.

• Default by IL&FS led to panic in the debt market and dried liquidity in the system of 1 lakh Crore.

• All other housing financing companies and infra companies stocks fallen up to 60% of its stock prices.

• IL&FS engineering(from Rs 45 to Rs 2.20) , IL&FS transportation(from Rs 166 to Rs 1.45)  and IL&FS investment(Rs 27 to Rs 2.40) share price crashed

• Widen of fiscal deficit which has adverse repercussion on inflation, exchange rate, growth etc.

• Sensex shed 2,000 points just in a week, sparking a bloodbath in the market.

3. What 

non-monetary losses did you identify?

REPUTATIONAL IMPACT

• ICRA Ltd, CARE Ratings Ltd, India Ratings & Research Pvt. Ltd, Deloitte and BSR (Part of KPMG) reputation got  affected due to major lapses in audit of the IL&FS.

• IL&FS new infrastructure projects dried up, downgraded reputation across market.

• Loss of confidence of investors.

• Rating agency ICRA downgraded the ratings of its short-term and long-term borrowing programs from “AAA” to “D”.

LEGAL IMPACT

• On April 2, 2019, former vice-chairman of IL&FS, Hari Sankaran, was arrested by Serious Fraud Investigation Office (SFIO) in Mumbai for granting loans to entities that were not creditworthy.

• The prosecution complaint was filed in a special court of the Prevention of Money Laundering Act, charging former senior management personnel of IL&FS — Ravi Parthasarathy, Ramesh Bawa, Hari Sankaran, Arun Saha, and Ramchand Karunakaran along with Aircel founder C Sivasankaran.

• The Enforcement Directorate (ED) conducted searches at multiple locations in connection with the IL&FS crisis, made provisional attachment of bank accounts and immovable property to the tune of Rs 570 crore held by these people.

• Sebi in December 2019 slapped a penalty of Rs 25 lakh each on ICRA Ltd, CARE Ratings Ltd and India Ratings & Research Pvt Ltd due to “lethargic indifference and needless procrastination and laxity” of the rating agencies.

OPERATIONAL IMPACT

• Government discontinued old board as it was deemed to have failed to discharge its duties.

• In October 2018, the government constituted a new board as the. Kotak Mahindra Bank Executive Vice-Chairman and Managing Director Uday Kotak, Tech Mahindra Vice-Chairman, Managing Director and CEO Vineet Nayyar, former Sebi chief G N Bajpai, former ICICI Bank Chairman G C Chaturvedi, former IAS officers Malini Shankar and Nand Kishore were made members of the board.

-Population in general; drug users, vulnerable people, e.g. the victims could be the port officials who were bribed by the traffickers to allow the entrance of containers full of cocaine, the risk on it if port workers do not accept the deal impose by the traffickers the consequences will be worst.

2. What was the impact of the crime in terms of monetary losses?

-The increment of government funds destinated to combat drug trafficking instead of being used to offer better public services.

3. What non-monetary losses did you identify?

-Violence, Corruption of the local authorities

2. What was the impact of the crime in terms of monetary losses?

$3,062,180.

3. What non-monetary losses did you identify?

Impacting employees livelihoods right before christmas

• Social: Communities in and around Victoria /Australia

• Health: People consuming tobacco and dealing with health issues.

• Economic: Australian economy due to tax evasion. It reduces government tax revenue.

What was the impact of the crime in terms of monetary losses?

• Illicit trade impacts average price of these items. Most illegal products are consumed by low-income population.

• The social impact and economic impact is huge. Premature deaths and poor health of those who consume these items is well known.

• Revenues, that should be going to the government for the benefit of its communities, gets diverted.

What non-monetary losses did you identify?

• Illicit tobacco market generates huge profits, and this often means that these parties continue to engage in these activities even after their activity has been disrupted by law enforcement.

• This activity is reported to be a significant driver of arson, violent offending and organised crime. Tobacco trade has links with public safety and governance.

• Illicit tobacco has public health impacts severely affecting youth and poor communities.

• The business itself due to the fine and losses sustained to its reputation.

• The companies employees, as no doubt many were laid off in order to cut costs.

• Many other innocent members of the public, and some of the figures identified who had laundered large sums through Crown casinos were major crime figures.

• The government and economy due to the lost tax revenue.

What was the impact of the crime in terms of monetary losses?

• $450 million dollar fine from AUSTRAC for at least 546 breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act, between 2016 and 2022.

• Unknown number of monetary losses due to major criminal figures laundering money through Crown Casinos.

What non monetary losses did you identify?

• Loss of reputation from Crown brand being named in the media. This results in individuals and other companies being less willing to work with and collaborate with them.

• Loss of government tax revenue from the laundered funds. The amount of this is unknown, however it is surely going to be in the hundreds of millions if not billions.

24 year old Melbourne man Sam Charles whom had lost his wallet and was subsequently subject to identify fraud.

2.       What was the impact of the crime in terms of monetary losses?

$1,848.96 in debt

3.       What non-monetary losses did you identify?

Psychological harm – having to deal with the stress and anxiety of being in debt for money that Sam did not spend.

of the crime?

-ATO

-Local community

-Legit businesses

2. What was the impact of the crime in terms of monetary losses?

-Unpaid tax

-Loss of income for business running legally

3. What

non-monetary losses did you identify?

-Negative impact on public health due to unmonitored tobacco consumption

-Government's reduced ability to invest in the economy due to unpaid tax

• Wilson,64 and his wife lost his retirement savings due to investment scam.

• Economy, due to the lost tax revenue from interest income.

• Bank, this customer could have been a potential investor to the bank.

What was the impact of the crime in terms of the monetary losses?

• Couple lost their retirement savings of $200k excluding compounding amount if they would have invested with legitimate investment firm.

• Bank lost potential investment of $200k.

What non-monetary losses did you identify?

• Emotional distress, losing money at the age of 64 is never easy. Considering public figure might have made it even harder.

• Time, ongoing case with Banking Ombudsman.

• Lost faith, with no re-imbursement, victim felt they were let down by the industry.

  
  

• Jim who had his funds and identity stolen.

• The Bank who returned the funds back to Jim as well as funding loans and credit cards they were fraudulently applied for in Jim's name.

• Society - as Jim's identity was used to fraudulently apply for Medicare rebates.

2. What was the impact of the crime in terms of monetary losses?

• Jim had $40,000 withdrawn from his accounts fraudulently.

• Cost to re-apply for and replace identification

• Cost to change his name

3. What non-monetary losses did you identify?

• Psychological and emotional stress of having your identity stolen

• Loss of trust in businesses who collect data

·         CBA Customer

2. What was the impact of the crime in terms of monetary losses?

·         $300,000.00 of life savings

3. What non-monetary losses did you identify?

·         Bank managed to recover one transaction but mentally will impact her for the rest of her life

1. Who were the victims of the crime?

The victims of the crime were the 3.7 million customers Medibank have, including existing, past and potential customers that take up insurance from Medibank and also the company themselves.

2. What was the impact of the crime in terms of monetary losses?

The impact of monetary loss to Medibank is inconclusive, as even though it has been reported that credit card details have been stolen, it has not been confirmed.

Cyber-attack threatens individuals and organisations. The activities go up year on year and the way which it is done becomes more and more sophisticated.

About 57% of cyber incidents reported by critical infrastructure entities involved compromised accounts or credentials; compromised assets, networks or infrastructure; and denial of service attacks.

During the 2022-23 financial year, there were nearly 94,000 reports of cybercrime submitted to ReportCyber, an increase of 23% compared to the previous financial year. On average, that’s one report received every 6 minutes.

The cost of cybercrime to businesses increased by 14% compared to the previous financial year. Small businesses experienced an average financial loss of $46,000, while cybercrimes cost medium businesses an average of $97,200, and large businesses an average of $71,600.

3. What non-monetary losses did you identify?

Economic

Psychological

Reputational

Social

of the crime?

Common poor people who do not have much knowledge of how system works.

2. What was the impact of the crime in terms of monetary losses?

People who were not able to even keep minimum balance to keep their account open lost money towards welfare schemes that they did not agree to and did not know about.

3. What 

non-monetary losses did you identify?

1 - Loss of faith on the system.

2 - Banks and financial instituitions hounding their employees to meet target and making them to do things that are fraudulent in nature.

1. Consumers who may incur losses as these providers are not bound by Australia’s consumer protection measures and unregulated wagering.

2. Government as the companies do not pay taxes within Australia.

3. Sporting/racing bodies who do not receive licensing fees from the offshore wagering companies.

4. Players within the sporting codes impacted by risks influenced by gambling such as match fixing.

What was the impact of the crime in terms of monetary losses.

1. No reference to direct monetary losses, but there are potential loss of earnings from sporting codes where unregulated bookmakers do not provide licensing fees.

2. There are also the losses which impact those who bet on these markets, which was quoted in the article stating “it wasn't unusual to see bets totalling up to $1 million on a single game.”.

What non-monetary losses did you identify?

1. The inherit risk of match fixing on amateur sports.

2. Increased potential for problem gambling with the increase in availability of gambling options.

3. Loss of integrity for the codes that hold agreements with bookmakers.

of the crime?

Timber tradie Peter Myall is owed at least $15,000 in superannuation, with unions urging action on what they call the last bastion of wage theft.

2. What was the impact of the crime in terms of monetary losses?

Myall, a timber tradie who makes roofs and trusses, is one of a group of seven employees of Timber Tech Pty Ltd represented by the Construction, Forestry, Maritime, Mining and Energy Union in South Australia who are owed at least $130,000 in unpaid super.

3. What 

non-monetary losses did you identify?

“It’s going to [put] a $15,000 dent in our retirement – that could be the difference between us taking a holiday or not, or being able to live a little better than just the pension, help our money last that little bit longer,” says his wife, Eileen Myall.

1. Consumers who may be purchasing fake cigarettes.

2. Australian Taxation Office.

3. The general population, as this trade equates to $40-$50b in lost government revenue every year, impacting the provision of health services, education, support services, infrastructure, etc.

4. Legitimate businesses selling cigarettes.

5. Individuals in countries producing the illegal products who are forced to work in factories to produce, with no access to basic rights and a dangerous working environment.

What is the impact of the crime in terms of monetary losses?

1. Lost government revenue of $40-$50bn each year.

What non-monetary losses did you identify?

1. Increases in the consumption of tobacco.

2. Impact on public health due to the amount of tobacco consumption that is not monitored.

3. Government inability to provide health services, education, support services, infrastructure, etc.

1. Consumers of the illegal drugs.

2. Families & friends of illegal drug users.

3. Health care and general community.

What was the impact of the crime in terms of monetary losses?

1. Funds taken from the public health care system.

2. Cost of rehabilitation and treatment.

3. Cost of law enforcement operations.

What non-monetary losses did you identify?

1. The users health and life.

2. The stress put on the family/friends of drug users.

3. Loss of general safety within the community.

Individuals that fell victim to A cloned website that mimicked the legitimate website of a superannuation fund. False identities were created to mimic real individuals using identity information purchased from darknet marketplaces, single-use telephone SIM cards and fake email addresses

2. What was the impact of the crime in terms of monetary losses?

In excess of $3.3million from victims’ superannuation and share trading accounts using fraud and identity theft

3. What non-monetary losses did you identify?

Innocent victims had their personal details stolen and sold online in darknet marketplaces - hacking and phishing and retirement plans irrevocably changed.

Who were the victims of the crime?

The victims of counterfeit goods are far reaching which include:

1.       The consumer due to placing their own health and safety at risk due to lack of regulation and control tests during the production of the goods.

2.       Persons involved in the production of the goods which may involve forced, slave or child labour.

3.       Businesses to the theft of intellectual property.

4.       Governments and taxpayers due to costs involved in the policing of counterfeit goods and loss of tax revenue.

Furthermore, the article The True cost of Fake Fashion by Naomi Selvaratnam published Feb 2024 by the ABC highlights links between the counterfeiting fashion underground economy with terrorism financing and human trafficking.

What was the impact of the crime in terms of monetary losses?

Though difficult to quantify a 2008 paper by the United Nations Office of Drugs and Crime (UNODC) estimated the loss to be $250 billion per year while a more recent article published by Forbs in 2022 estimates the lost to be between $1.7 trillion to $4.5 trillion per year.

What non-monetary losses did you identify?

Non-monetary loss may include:

1.       harm caused to the consumer of counterfeit goods due to unregulated or uncontrolled production particularly in relation to consumables such as pharmaceuticals.

2.       Impact on an economies willingness to innovate and create.  

3.       Loss of tax revenue otherwise spent on other areas of the economy/society.

4.       Funding of other illicit activity such as human trafficking and terrorism.

5.       Wider geopolitical consequences including the placement of tariffs.

John and Julie victims of porting where the fraudsters were able to gain control of the identity by having Johns phone number ported to another device.

2)      Impact of crime in terms of monetary loss?

Drained out approximately $325,000, sold approximately $45,000 in shares and created 20 debit and credit cards in John and Julies names. Fraudsters also contacted Johns clients requesting them to send money to accounts that were not owned by John.

3)      What non-monetary loss did you identify?

• Suffered anxiety and had an overall affect on the mental health of John and Julie.

• The fraudsters accessed John’s email account and were able to contact Johns family, friends and clients. On one occasion the fraudsters used Johns number to message Julie asking to discuss something.

• Phoenixing is the practice of creating a new company after the orginial company has failed to avoid paying their liabilities to the victims such as tax debts to the ATO, employee wages and invoices from sub contractors.

• Other victims include people unknowingly becoming a director of a company and the families of sub contractors like in this story

What was the impact fo the crime in terms of monetary losses?

• ATO indicate that this practice costs its victims 2.5b a year

• in the stories in this article, it costed a sub contractor 0.35m

What non-monetary losses did you identify?

• the sub contractors health deteriorated plus stress on his family

Impact of the crimes: Millions of dollars hourly were laundered in this syndicate in 2022 up to $1mill per hour at some stages. Up to $250 million in cash and assets.

Non-Monetary losses: Mental and physical wellbeing of the victims and those who were forced to be involved.

Illegal phoenix activity includes:

1.       non-payment of wages, superannuation and other entitlements

2.       getting an unfair competitive advantage over other businesses

3.       non-payment of suppliers

4.       loss of government revenue and increased monitoring and enforcement costs

5.       avoidance of regulatory obligations.

https://www.dewr.gov.au/fair-entitlements-guarantee/feg-related-fraud-and-illegal-phoenix-activity

1.       Victims of Phoenixing

·       Revenue authorities, employees, small trade creditors, competitors and Customers.

·       https://law.unimelb.edu.au/__data/assets/pdf_file/0004/1730695/Anderson-and-Welsh-2015-ALTA-paper-24th-June-2015.pdf

2.       Impact of the crime in terms of monetary losses - Australia

·       Estimated up to $5.1 billion for 2015–16

·       https://www.anao.gov.au/work/performance-audit/addressing-illegal-phoenix-activity

3.       Non-monetary losses

·       Illegal phoenix activity impacts the entire community as revenue lost could have contributed to hospitals, roads, education and other essential services

·       https://www.dewr.gov.au/fair-entitlements-guarantee/reducing-illegal-phoenix-activity

77 People were identified as victims

2. What was the impact of the crime in terms of monetary losses?

The man stole more than $16,000 via unauthorised refunds using the EFTPOS machine. It will also be alleged he attempted to steal a further $55,000.

3. What non-monetary losses did you identify?

The man charged was found with a stolen EFTPOS machine, along with bank cards and other identity documents in the names of other people. Police also seized numerous identity and falsified documents as well as mobile phones, with identity documents relating to 77 people located. This information can lead to these people feeling violated as this information could have been used or sold off.

Impact in terms of monetary loss: $46,000. The Inspector General found this was not an isolated cases, with 50 per cent of the cases she investigated involving amounts of more than $10,000, and many were identified by the scam victim or their accountant, not the ATO.

Non- Monetary Loss: Distress and time impacts in having to challenge ATO when asked to repay the fraudulent ATO payment. He contested the ATO ruling, lost and then had to seek an intervention by the inspector General and then get a police report before his name was cleared. These cases lead to loss of confidence in ATO and targeting of ATO for fraud as it can be seen as a soft target.

Immigrants who are looped into this fraud, insurance companies, and people in the community adversely impacted from the crashes.

(2) What was the impact of the crime in terms of monetary losses?

Estimated to be about $150m a year relating to fraudulent claims.

(3) What non-monetary losses did you identify?

Adverse impact to people in the community from the crashes, inefficient use of resources for various parties eg. insurance companies, community, councils to clean up crash sites, and resolving claims. Potentially higher premium for innocent insured people

-British Columbia and it's residents were the ultimate victims of the crime, due to the nature of PMLO's, the source of funds is unclear. 

What was the impact of the crime in terms of monetary losses? 

-For BC alone, a conservative estimate places the value of money laundered in 2018 was CAD$7.4 Billion, CAD$5 Billion being via Real Estate. 

What non-monetary losses did you identify? 

-BC estimates that due to this ML activity in 2018, house prices in BC were inflated by 5%, further adding to the housing affordability crisis. 

Undercover officer was found negotiating with criminals about washing dirty money by converting Australian dollars into cryptocurrency via Bitcoin in WA.

1.Who were the victims of the crime?

Defraud the Commonwealth and abuse of public office.

2.What was the impact of the crime in terms of monetary losses?

The public officer conspired to direct information technology contracts through preferred suppliers leading them to receive financial benefits. The public is entitled to have confidence in the integrity of their public officials, and to know that an Australian Public Service (APS) employee's personal interests do not conflict with his or her public duties. The APS Code of Conduct (the Code) requires employees to take reasonable steps to avoid any conflict of interest, real or apparent, in connection with their employment.

3.What non-monetary losses did you identify?

The acceptance of a gift or benefit that is connected with an employee's employment can create a real or apparent conflict of interest that should be avoided. At the extreme, it could be perceived as a bribe. Accepting a bribe is an offence under the Commonwealth Criminal Code Act 1995- external site (the Criminal Code) and a breach of the Code of Conduct. Since the converted AUD into crypto bitcoin while holding public office, it can also be considered an act of insider trading.

1.       Who were the victims of the crime?

• The consumers who believe that they are getting a good deal on a real luxury brand item.

• The workers who are being exploited by working sewing machines all night, possibly without a break.

• The original luxury brands are affected by loss of customers, decline in sales and the theft of intellectual property. The quality and reliability are also affected by customers who review the counterfeit goods, believing it to belong to a real brand.

• The government is affected by loss of tax revenues (incl. GST) from the authentic luxury brands due to sales decline. Also, lack of tax revenues from the fake brands because they run an underground market.

• The organisations who let the fake brands rent the warehouses or stores are affected because these brands are move quickly and once they are captured, their accounts are frozen, and the owner of the warehouse suffers a loss.

2.       What was the impacts of the crime in terms of monetary losses?

In 2020, there were approximately $76 billion sold in fashion counterfeit goods. In one case, one row of shops sold $700 million of counterfeit goods in a single year. In another case, counterfeit stock was confiscated, amounting to $4.8 million.

In 2023, counterfeit goods sale have tripled to approximately $7 trillion/ year, with a primary focus on fashion goods.

3.       What non-monetary loses did you identify?

• The impact on authentic businesses, who had their intellectual property, reputation and customers stolen.

• Consumers’ lack of trust in the future.

• Loss of money being funnelled into the economy to sustain government buildings.

• In most cases, counterfeiting businesses are connected to a criminal organisation that funnels money from counterfeit goods into doing other crimes, especially terrorism financing.

1. Drug users and the community

2. Pressure on the health system

3. Desperate users recruited to be drug mules

4. family members

What was the impact of the crime in terms of monetary losses?

1. drug treatment and drug related medical interventions

2. huge impact on the health system

3. expense to the tax payer in directing funding toward the war on drugs

What non-monetary losses did you identify?

1. excessive levels of imprisonment and overburdened judicial and penal systems

2. environmental impact of the cultivation of certain flora responsible for the manufacture of drugs

3. Mental health of users and their families as well as the impact trafficking on families

a.       Employees of the company; other businesses competing with the phoenixed company; credits of the business (typically in the form of suppliers or sub-contractors employed by the business); the community, which misses out on revenue that could have contributed to community services, particularly in the form of taxation revenue.

2.       What was the impact of the crime in terms of monetary losses?

a.       Estimated to be between $2.85 and $5.13 billion per year. This is comprised of unpaid trade creditor costs between $1,162 million and $3,171 million; $31 million - $298 million in unpaid entitlements to employees; and costs to government from unpaid taxes and compliance costs of around $1,160 million.

3.       What non-monetary losses did you identify?

a.       Further non-monetary losses can include loss of employment opportunities for employees who lose their jobs as part of the phoenixing operation; loss of confidence from suppliers, employees, and sub-contractors in willingness to do business within that industry; loss of visas where visa holders may no longer be employed by their sponsor company. Creditors and employees may also face significant mental stress as a result of being the victims of phoenixing. Regulatory agencies may also face a loss of confidence where anti-phoenixing laws are not being appropriately prosecuted.

The companies set up by the three men failed to remit both Goods and Services Tax (GST) and Pay as You Go (PAYG) withholding to the ATO, despite charging their clients GST and including figures supposedly withheld for PAYG on employee payslips. Significant debts for the entities were raised following audits, however, because the men were withdrawing funds from the respective entities’ accounts on a frequent basis, there were insufficient funds at the time of liquidation to enable the recovery of the outstanding tax debts. Over a 25-month period, across all six entities, $23,131,414 was withdrawn in cash by the offenders.

In some instances, there was some overlap in the operation of the entities, but in most cases, they would cease operating an entity and move on to another, beginning the cycle again.

Who were the victims of the crime:

1. Company employees and their families/dependents as they were charged on their payslips

2. Company customers (paid GST)

3. The economy/Australian community/International community

4. Regulators (ATO/Commonwealth)

5. Market competitors

6. Supply chain - contractors, suppliers, etc.

What was the impact of the crime in terms of monetary losses?

1. Defraud of $4,632,355

2. Withdrawn $23,131,414 as cash by offenders

What non-monetary losses did you identify?

1. Losses to the community - less/lack of funding to critical/essential sectors in the community such as health/education/transport

2. Loss of jobs/stability for employees and an impact on their quality of life from the changes and lack of justice/protection

of the crime?

Employees of the company at the time of employment

Community - Government tax expenditure

Businesses earnings - future services

2. What was the impact of the crime in terms of monetary losses?

Employees, loss of interest on superannuation payments

Employees, loss of wealth in retirement.'

Company director - loss of wealth

3. What non-monetary losses did you identify?

Community impact, loss of wellbeing in retirement

Further business community impact, loss of earnings

Government reduction of GST payments in future transactions.

2. What was the impact of the crime in terms of monetary losses? The value of counterfeiting is estimated by the OECD to be in the region of $250 billion per year.

3. What non-monetary losses did you identify? Counterfeiting can affect what we eat, what we watch, what medicines we take and what we wear. For example, the buying of fraudulent pharmaceuticals. There are numerous examples of disability and death caused by tainted medication.

The number of Australians affected by card fraud has climbed to 8.7 per cent in 2022-23, with people aged 45-54 the most frequently affected.

2. What was the impact of the crime in terms of monetary losses?

An Australian Bureau of Statistics report says an estimated gross amount of $2.2 billion was lost to card fraud. The net loss by all victims after reimbursement was $476 million.

3. What non-monetary losses did you identify?

Victims of fraud likely experienced increased stress levels, while institutions and police expended significant time on investigations.

• Individuals

• Employees

• State Government

What was the impact of the the crime in terms of monetary losses?

• No direct reference to monetary losses but it did state that an estimated $85 million went through the casino, which could be the proceeds of crime.

What non-monetary losses did you identify?

• Abuse of power by the casino operators.

• Non compliance to the law.

Who were the victims:

While the primary victims were the exploited workers, who endured not only financial hardship but also stress and uncertainty, it is worth pointing out that this anti-competitive behaviour also victimises other businesses in the market - who will struggle to remain competitive against business who maintain an advantage via nefarious means and the tax payer, who misses out on the associated revenue from the underpaid wages.

What was the monetary value:

In monetary terms, the impact of this was significant. The Australian Fair Work Ombudsman identified underpayments totaling AUD $173 million. While wages were impacted it was also identified that superannuation contributions were impacted, the compounding nature of this is crucial to those employees' long term financial security.

What was the non-monetary impact:

The broader impact of this scheme is substantial, it undermines trust in the labour market, distorts fair competition, and causes significant mental distress to impacted workers.

Our Community

2.     What was the impact of the crime in terms of monetary losses?

Seized $641,980.00 in cash & 2 luxury watches approx worth $90,000.00.

The restraining of criminal assets and removing the profit from crime was a key strategy to ensure offenders did not enjoy lavish lifestyles at the expense of the community or reinvest tainted wealth into other illicit ventures.

3.     What non-monetary losses did you identify?

The seizing of about 5.7kg of methamphetamine. The two men were charged with trafficking a commercial quantity of methamphetamine and money laundering as part of the criminal investigation

Who are the victims of crime?

• Direct financial loss to impacted business/es.

• Everyone loses from tax evaded; tax is vital for public services, our health care system, education, social services, aid assistance etc which benefits every person in society.

• Jobs – sales are reduced which impacts employment. Workers of counterfeit products may also be poorly paid.  

What was the impact of the crime in terms of monetary losses?

• It is estimated that around $1.7 to 4.5 trillion of counterfeit products are sold globally each year according to the US Patent and Trade Office.

• As highlighted above, tax losses (which probably cannot be quantified).

• Increased tax - i.e. government resources spent to counter-counterfeit products impacting tax payers.

What non-monetary losses did you identify?

• Counterfeit products undermine intellectual property rights. It is unfair and unethical.  

• Counterfeit products may also be connected to organised cross-national criminal activity such as human trafficking, drug trafficking and slave labour.

• Habitual counterfeit purchasing may foster poor financial habits; products create a false sense of desirable and smart spending.

Australian People,

Australian Government (ATO)

Legitimate tobacco sellers

Individuals who grow and pack illegal tobacco who may not be coerced into the illegal business without access to proper wages and conditions.

2)What was the impact of the crime in terms of monetary losses?

about $6 million in lost excise.

3) What non -monetary losses you identify?

Impact on the Australian Taxpayers, who fund health and education programs through legitimate tax collected.

Continued smokers who are a burden on the health systems through the consumption of illegal tobacco.

NZ community and with the transnational involvement, various offshore communities are also victims. These include those harmed directly or indirectly by drugs, taxpayers and members of society, unwitting cash couriers (predominantly international students).

What was the impact of the crime in terms of monetary losses?

The amount of money laundered was estimated to be NZD$26 million

What non-monetary losses did you identify?

Non-monetary losses include the NZ economy including loss of tax on laundered funds, time investment of NZ Police, strain on healthcare system and society due to illegal drug use which is ultimately where the funds have originated from.

Understated Business Income _{- (AK)}

Who were the victims of the crime?

Victims of understated business income in the black economy include both individuals and broader societal institutions.

Directly, workers are victims as they miss out on entitlements like proper wages, leave, and employee protection. Honest businesses are also victimized as they are undercut by competitors who avoid tax obligations, creating an uneven playing field.

Additionally, the general public suffers because reduced tax revenues from the shadow economy mean less funding for essential public services like healthcare, education, and infrastructure

What was the impact of the crime in terms of monetary losses?

The monetary impact of understated business income is substantial.

For the fiscal year 2019-20, the Australian Taxation Office (ATO) estimated that the shadow economy accounted for $12.4 billion, which was about 30.6% of the gross tax gap. Of this, small business income tax accounted for approximately $8 billion.

These figures highlight the significant loss of potential tax revenue, which could have been used to fund public services

What non monetary losses did you identify?

Non-monetary losses from the shadow economy and understated business income include diminished trust in the tax system and broader societal norms supporting voluntary compliance. This erosion of trust can lead to a decrease in overall tax compliance.

Additionally, the exploitation of workers, who may face poor working conditions and lack proper protections, is a significant non-monetary loss. There are also broader impacts such as the distortion of competition, which can lead to the failure of honest businesses and potentially increased criminal activities as organized crime networks often benefit from shadow economy activities

Sources

Shadow economy - Australian Taxation Office

The shadow economy explained - Australian Taxation Office

Implementation of the Government Response to the Black Economy Taskforce Report - Australian National Audit Office

(ANAO)

The Shadow Economy - RDP 2018-12: Where's the Money? An Investigation into the Whereabouts and Uses of Australian Banknotes (RBA)

of the crime?

Australian Community

More specifically the Melbourne community where the drugs were being shipped to

2. What was the impact of the crime in terms of monetary losses?

Funding of police force to eradicate drug use

Associated health related risks place burden on health system

3. What 

non-monetary losses did you identify?

Local community safety (weapons also)

Drug related community harm

Addiction services

of the crime?

Australian banking customers who hold credit card that have been involved in card fraud.

2. What was the impact of the crime in terms of monetary losses?

Australians lost $2.2 billion in 2023.

3. What 

non-monetary losses did you identify?

Extra efforts and time spent by Bank. Customers loses trust on Bank, negative impact to the whole Australia economy.

-The community, especially those who are vulnerable to drug use/addition.

What was the impact of the crime in terms of monetary issues?

-Significant resources used by Police/Law enforcement, health system, Ministry of Justice/Court system.

What non-monetary losses did you identify?

-Health, Social and environmental harm

/ByRosa Ritchie

1. Who were the victims 

of the crime? Melbourne man Ilker

2. What was the impact of the crime in terms of monetary losses? fraudulent traffic offences, public transport fines, possible costs to defend himself

3. What 

non-monetary losses did you identify? Time and stress caused impacting his health & wellbeing

• creditors

• staff the were made redundant

2. What was the impact of the crime in terms of monetary losses?

• loss of superannuation payments for the employers made redundant, loss of salary

• creditors losing accounts receivable

• loss of tax for government bodies

What non-monetary losses did you identify?

• stress for people who lost jobs and companies that may now struggle with cashflow

• time in court that could be better spent

• loss of reputation for a business that had been running for 30 plus years

• 
  

1. Who were the victims of the crimes?

• Subcontractors who provided services to Walton Consruction were among the primary victims, as they were left unpaid after the company's assets were transferred and the original entity was liquidated.

• Suppliers who had delivered materials and goods on credit to Walton Construction also found themselves among the unpaid creditors.

• The ATO was another victim, losing out on owed taxes due to the company's strategic insolvency.

2. Who was the impact of the crime in terms of monetary losses?

• Subcontractors and suppliers collectively faced millions of dollars in unpaid invoices due to the illegal phoenixing activities.

• The ATO lost significant revenue due to the unpaid taxes, contributing to the overall estimated annual cost of phoenixing to the Australian economy, which is around $5b (HHG Legal Group).

3. What non-monetary losses were identified?

   • The subcontractors and suppliers faced reputational damage and business disruptions, as many of them were small businesses reliant on consistent cash flow.

   • There was a loss of trust within the industry, as stakeholders became wary of engaging with companies that might engage in similar fraudulent practices.

   • The legal and regulatory systems were strained by the need to investigate and pursue complex phoenixing cases, diverting resources from other important matters.

Australian Community, especially people who are vulnerable to drugs & families and friends of those illegal drug users

2. What was the impact of the crime in terms of monetary losses?

Resources used & cost incurred during the law enforcement operations, cost incurred by court,  resources used by health system and rehabilitation  centres

3. What non-monetary losses did you identify?

Health harm, social impact, impact/fear of the community/households affected, stress on affected families & friends

2700 existing and 5500 former employees of UWA.

What was the impact of the crime in terms of monetary losses?

$6.6 million in re-paid superannuation contributions

$4 million in interest + unknown amount of potential wage theft on casual staff

What non-monetary losses did you identify?

Reputational damage to the university as an educational provider and employer.

Distrust from current and former employees

Emotional and financial stress of being underpaid and missed retirement savings.

Who were the victims of the crime?

• New Zealanders. The money launderers undermined the integrity of the financial system.

• Honest businesses and institutions. They may have unknowingly facilitated money laundering.

• Local communities - they deal with the effects of crime, drug addiction, and violence.

What was the impact of the crime in terms of monetary losses?

• $1.35b NZD generated from illicit drugs that was laundered into the financial system.

• Lost tax revenues that could help local communities.

• Opportunity cost - government resources diverted to money laundering are not used on other pressing matters in the community.

What non-monetary losses did you identify?

• Increased criminal activity - i.e. crime becomes incentivised due to being profitable and can be gotten away with.

• Communities need to deal with the lives destroyed by drug addiction, trauma, poverty cycles etc.

• Trust undermined in government and financial institutions - they may be seen as failing the NZ public.

Australian Public, especially vulnerable community members who are vulnerable to drugs and families of those users.

2.       What was the impact of the crime in terms of monetary losses?

Appx, $1.5m in crypto currency, tens of thousands in cash, significant government resources used for the investigation

3.       What non-monetary losses did you identify?

Loss of lives, increase in violence, social and health impact of families affected by drug usage, loss of trust in police and in general increased criminal activity

The intentional and continual underpaying of vulnerable migrant workers.

2. What was the impact of the crime in terms of monetary losses?

   The two companies intentionally underpaid employees under the Restaurant Industry Award Act 2010, including underpayment of casual loading and weekend/public holiday penalty rates as well as provided false records to Fair Work Inspectors which understated hours worked and provided false rates of pay. A total of $4 million was determined to have been stolen from workers.

3. What non-monetary losses did you identify?

Undermined trust in employers, as well as caused significant mental anguish on workers.

of the crime?

The Federal and State Government, the taxpayers.

2. What was the impact of the crime in terms of monetary losses?

They acted egregiously against the interest of the tax payers while serving the taxpayer and billed unethically. The PWC Tax scandal where partners were using confidential government information to advises companies like FB and Uber to evade tax. Public Taxpayers Money worth $10 Billion dollars have been spent which can be accounting for more by the Federal and State in the past decade.

3. What  non-monetary losses did you identify?

Loss of trust in their organization and conflict of interest in advising both the Big MNC's on how to avoid taxes and the govt in advising on how to collect mor taxes.

of the crime?

Members of the public. Australian businesses being impersonated.

2. What was the impact of the crime in terms of monetary losses?

Tax for the Government from the businesses. Members of the public losing money to spoof/fake set-ups.

3. What 

non-monetary losses did you identify?

Brand damage, bank time to reverse charges and investigate.

Citizens of Algeria.

2.       What was the impact of the crime in terms of monetary losses?

The government estimates roughly $7 billion worth of foreign currency trades hands on the country’s black market. Distort country’s economy, discourage investment and encourage corruption. It would make purchasing certain goods difficult for Algerians.

3.       What non-monetary losses did you identify

Loss of confidence in Government and people falling deeper into poverty.

The Person who was the Victim of the Identity Theft (Possibly others who were impacted by the same data breach/fraud)

What was the victim of the crime in terms of monetary losses?

The victims credit score Plummeted, and multiple buy-now pay-later loans were taken out leaving the victim with hundreds of dollars of overdue payments.

What non-monetary losses did you identify?

Fear of what else may have been done with the victims identity and the uneasiness of this reoccurring in the future. This may have also caused the victim to have distrust in institutional security.

Illicit tobacco robs government from obtaining revenue through excise and custom duties. This in turn impacts the larger community and economy. In 2023, illicit tobacco accounted for 28.6% of total tobacco consumption.

The perpetrators are also victims of the crime if they are caught and/or prosecuted. Some of these are unsuspecting mules – like students, aged population.

2.      What was the impact of the crime in terms of monetary losses?

If excise was collected on this volume of illicit tobacco, it would have generated $4.85 billion in additional government revenue based on 2023 excise rates

3.      What non-monetary losses did you identify

Potential for diseases due to increasing illicit import. Increased risk of tobacco related ailments due to ease of access to illicit tobacco. Impact to legitimate tobacco industry

Ref: bat-further-information-3.pdf (Vic parliament, 2023 report)

of the crime?

12 investment scam victims, including Auckland businessman Deepak Udhani who lost $100,000 in June, 2023.

2. What was the impact of the crime in terms of monetary losses?

The 12 victims lost close to $1.8 million, altogether. This is likely a portion of the full amount stolen from overseas victims of which the funds were sourced from.

3. What non-monetary losses did you identify?

The loss of Sharma's clients being able to trust in his work given his reputation, meaning they will migrate to other tax/accountancy businesses.

Multiple US citizens but a particular focus on Heather Bradly. Their identity was being used to collect financial aid.

What was the victim of the crime in terms of monetary losses?

The victim had a loan in her name for 9,000USD that was paid out to someone else.

Overall California Government has identified a loss of 11.1 million dollars in the past year.

What non-monetary losses did you identify?

The decrease of students able to register for classes do to deep fake chat bots signing up.

Undermining the US Department of Education creditability to determine real vs fake AI profiles

of the crime? Insurance Company & Driver of vehicle which was reversed in to.

What was the impact of the crime in terms of monetary losses? Vehicle repair costs or write-off. What 

non-monetary losses did you identify? Impact on 2nd driver/owner of 2nd vehicle - stress, time for repairs etc, higher impact is uninsured.

What was the impact of the crime in terms of monetary losses? The methamphetamine had a street value of $22.5 million while the cocaine was worth $1.5m. The dispatch and end use of these drugs would have gone on to cause significant harm and cost to New Zealand communities, with the exact cost of that being unknown. When you consider the greater picture, you need to consider the cost involved in funding resources such as police, operation costs, court, lawyers and the end payer, the taxpayer, job loss, not forgetting the cost to run rehab facilities and increased pressure on the New Zealand public health system as a result.

What non-monetary losses did you identify? The impact these drugs would’ve had on our community is far and wide. It’s reported that some of the effects of using drugs include both financial and non-financial harm. For example, health, social impact, fear among community, increase of crime, income not going where it needs to go, specifically to families and children being raised in the homes of drug users.

The victims are consumers as illicit products can present significant health risks, legitimate businesses as it means unfair competition given the large discounts often applied on these illicit products and the government as it represents massive fiscal losses.

What was the impact of the crime in terms of monetary losses?

As stated in the article imported shipping containers being declared as beer when they were predominantly filled with spirits is denying New Zealand of about $40 million in excise duty annually. This lack of revenue from taxes causes a negative impact on the country’s economy.

What non-monetary losses did you identify?

Significant health risks for consumers who purchase these products given that these products don't go through the due diligence around verification and point of origin so consumers do not know what fluid is in the bottle. Which could lead to alcohol related harm. Unfair competition for legitimate businesses as they cannot compete with products that have been smuggled in due to them been sold at discounted rates. As stated in the article businesses who legitimately import product, spend quite a bit of money ensuring the labelling information is up to spec and complies with New Zealand law.

What was the impact of the crime in terms of financial losses? Resources used by the AFP and banks to investigate, costs to regain his identity documents, high interest rates for victims if they ever need to take loans for any purpose

What non-monetary losses did you identify? Loss of identity information. Victims fear the syndicate will pursue them as they have their address and personal information. Ethical and moral dilemma as the arrangement feeds into the gambling and betting organisations. Inability to obtain loans because there might have been bad debts accrued when their identity was being used to create numerous accounts.

Jackson sold his ID to an Australian gambling syndicate. He is now discovering what has been done in his name | Gambling | The Guardian

When Intellicomms sold its business assets to Tecnologie Fluenti Pty Ltd (which was set up fpr phoenixing to occur), it was then not in a position to satisfy creditors that were owed money.

What was the impact?

The sale of assets basically served to strip Intellicomms of what assets it had to satisfy the claims of its creditors – placing them completely beyond their reach.

What non-money losses did you identify?

Lack of trust between businesses when doing business to business transactions especially of high dollar value

of the crime?

Who isn't a victim of drugs? Drugs do not just affect the users, but the wider community also.

Drugs create a multitude of mental and physical health issues for the users which results in increased healthcare burdens putting a strain on our healthcare system and emergency services. There is also increased risk for our frontline healthcare workers who have to deal with increased violence and risks with treating drug users.

There are the social impacts on the wider community with crime and violence, family breakdowns, domestic violence, child abuse and homelessness.

Economically, governments spend more money on healthcare, rehabilitation and law enforcement in areas with high drug activity. Increased spending in those areas leads to reduced spending in other areas that the community may need. There is also an impact on the housing market, with house prices dropping, and landlords losing money due to tennants destroying their houses.

The overall wellbeing of the community is also impacted due to stigma, discrimination and vulnerability of youth being affected.

2. What was the impact of the crime in terms of monetary losses?

The street value of the cocaine was worth $623.4 million and would have been a major hit to the criminal organisation. The resources put into law enforcement to investigate and catch these criminals would of also had significant costs.

3. What 

non-monetary losses did you identify?

Each of the people who were arrested, are human beings with families. There will be a major impact on their families with them being incarcerated. They will also face the possibility of abuse and violence in the jail system and may possibly have long lasting mental health issues as a result. When these people are released they will likely struggle to open bank accounts due to adverse media, they will likely struggle to find work due to their criminal record, and they may face discrimination and isolation with their community and own family. The general recidivism rate in Australia is around 45-50% which means that there is a great chance that these people will reoffend when they are released from jail, and be caught in an unfortunate cycle.

The victims are two companies that were allegedly defrauded of more than $5.5 million via a cryptocurrency scam.

What was the impact of the crime in terms of monetary loss?

The direct monetary loss is over $5.5 million defrauded from the companies.

Police also seized assets (luxury and classic cars, motorcycles, watches) valued at about $2.7 million, plus a Ferrari worth $600,000, which are proceeds of the crime.

What non-monetary loss can you identify?

Reputational damage to the companies involved.

Emotional distress and loss of trust for company staff and stakeholders.

Disruption to business operations due to the investigation and loss of funds.

Potential loss of confidence in cryptocurrency transactions for the wider business community.

https://www.unodc.org/roseap/uploads/documents/Publications/2024/Casino_Underground_Banking_Report_2024.pdf

1. Who were the victims of the crime?

 Southeast Asian governments and Chinese government via tax losses, government spending losses when money is funnelled out of the country.

Banking systems in respective countries as the scale of money laundering via the illegitimate system undermines stability of legitimate system. 

Hundreds and thousands of youth unemployed individuals who end up as victims of human trafficking and cyberfraud, forced labour victims. Alongside several cyberfraud victims whose personal data has been sold to invest in these online fraudulent investment platforms.

In May 2023 in the Philippines, the police rescued 1,900 victims of cyber fraud & cryptocurrency investment fraud. In June a second rescue operation saved a further 2,800 victims from forced labour.

2. What was the impact of the crime in terms of monetary losses?

The significant casino industry in Southeast Asia combined with connected junkets (organised gambling group of high wealth players connected to travel through several casinos to attend VIP games), online casinos, e-junkets and illegal unregulated cryptocurrency exchanges are massive banking architectural foundation pieces for organised crime to launder illicit funds through the financial system. This results in billions of dollars of criminal proceeds being effectively integrated into the formal financial system.

As law enforcement has cracked down against casinos this has moved operations to other pockets of criminality with more loose regulations in the Golden Triangle.

In 2020 the Government of China estimated 5 million people used running point platforms and syndicates (underground banking) to total US $157 billion in capital outflows of China. 

3. What non-monetary losses did you identify?

Movement into cyberfraud leads to victims of human trafficking. Risks for recruitment fraud, especially for young people. Money mules are also utilised has an impact on their lives and those around them. Financial crime is a direct result of the monetary value gained via criminal activity, as such the victims of the crimes in which the money was derived.

- The community itself, family and friends of those that purchase and use drugs, victims of any other crimes associated with other activities of the criminal group that were made possible by having access to to the laundered funds. 

What was the impact of the crime in terms of monetary losses?

• On one side, the time and money spent on the investigation an subsequent court cases 

• The ML individual forfeited cars/cash/bank funds

• Economic impact of those funds entering the NZ economy

What non-monetary losses did you identify?

• Societal impacts of drug use especially on families

• Loss of trust in formal banking systems

Who were the victims of this crime?

There are many different facets of victims in money laundering, from people who have been exploited, to people who have been scammed, cybercrime also creates another face of victim which affects individuals or businesses. Any individual or any business could potentially be a victim of money laundering.

What was the impact of the crime in terms of monetary losses?

Based just on domestic counters the cost of financial crime is estimated to be as high as $43.7 billion per year. If we include the cost of prevention and response costs it could be as high as $60.1 billion (Figured based on 2020-2021)

What non-monetary losses did you identify?

·         Financing and facilitating crime- Enables criminals to fund other activities such as weapons trafficking of people trafficking, both of which increase potential harm to people.

·         Loss of public revenue- This affects the government by limiting available funds to provide necessary healthcare, education and infrastructure.

·         Reputation of the financial sector- If a financial institution is linked with money laundering the reputational damage the company faces can have significant impact.

https://www.austrac.gov.au/sites/default/files/2024-07/2024%20AUSTRAC%20Money%20Laundering%20NRA.pdf

. The community and tax payers who bear the cost to society.

. Social services

. Public health services which need to accommodate to smoking related illnesses and therefore those who have unrelated health issues who are impacted due to the resources allocated to tobacco.

What was the impact of the crime in terms of monetary loss?

The federal budget bottom line has been dealt an almost $7 billion blow in tobacco tax revenue, as black market cigarettes sales boom.

Australians turning to cheaper illegal tobacco or switching to vapes has seen the expected tobacco tax take plummet, with Treasury forecasting $6.9 billion will be slashed between now and 2029.

What non-monetary loss did you identify?

. Social impacts, such as health.

. Increase in gang related crimes.

. Devaluation of property due to increase crime in certain areas.

. Higher wait times to see doctors

. Impact on legitimate businesses.

A booming trade in illegal cigarettes has cost the federal budget $6.9 billion - ABC News

The victims come from many walks of life. Rich or poor are influenced and initiated into using drugs, which in turn creates adverse effects on the health and well-being of not just the user but the entire family and in turn communities. Drug mules may or may not be aware of what they are carrying.

2. What was the impact of the crime in turns of monetary losses?

   • According to data from the UNODC/WHO/UNAIDS/World Bank published in 2023, approximately 20,000 people in Central America and about 100,000 people in the Caribbean engage in injecting drugs, underscoring significant regional challenges. (Source: INCB Annual Report 2023)

   • Furthermore, new global estimates indicate that in 2021, there were 13.2 million people globally who inject drugs, marking an 18% increase from previous estimates. The overall number of drug users worldwide in 2021 exceeded 296 million, reflecting a notable 23% rise over the past decade. Concurrently, the number of individuals grappling with drug use disorders surged to 39.5 million, a substantial 45% increase over the same period. (Source: UNODC Press Release)

   • In response to these escalating challenges, the United Nations Office on Drugs and Crime (UNODC) allocated USD 83.6 million in 2023 towards addressing and combatting the global drug problem. (Source: UNODC Annual Report 2023)

   • Moreover, the Drugs-Crime Nexus in the Amazon Basin, as highlighted in the World Drug Report 2023, emphasizes the severe impact of drug trafficking on countries such as Brazil, Peru, Bolivia, and Colombia, which host significant portions of the Amazon rainforest. (Source: UNODC World Drug Report 2023)

   • On a global scale, cannabis remains the most widely used drug, with an estimated 219 million users in 2021, comprising 4.3% of the global adult population. (Source: UNODC World Drug Report 2023 Executive Summary)

These statistics underscore the urgent need for concerted international efforts to address the complex challenges posed by drug trafficking and drug abuse worldwide.

3. What monetary losses did you identify?

   Social harm - destroying the lives of the users, drug mules (living in fear or threat and extortion) and finally destroying the lives of loved ones.

• All Australians that participate in the Australian Financial system as Money Laundering activities undermines the trust the integrity and trust in Financial system.

• Communities that deal with the negative repercussions of the crimes that occurred for the laundered proceeds.

What was the impact of the crime in terms of monetary losses?

• The exact dollar amount is not specified but each contravention attracts a maximum penalty between $21 million and $33 million.

• Taxpayers who will bare the increased cost of welfare services due to the negative impacts of crime committed for the "dirty money" such as drugs.

What non-monetary losses did you identify?

• Undermines the integrity and trust in the Australian Financial system

• Incentivises further criminal activity as significant compliance gaps and lack of controls like this example still exists in the financial system which can be exploited.

• Reputation damages to the Entain group which is behind two of the largest bookmakers, Ladbrokes and Ned and the gambling industry as a whole.

• Weakened public trust in corporations upholding compliance and AML efforts.

Who were the victims of the crime?

Australians are victims of the scams using these Crypto ATMs, with majority being females over 50 years of age. The most reported scams reported are investments scams, followed by Extortion emails and romance scams.

What was the impact of the crime in terms of Monetary Losses?

Australians reported loss through Crypto Currency ATMS was at least $3 million in the last 12 months however the losses are expected to be a lot higher as most victims don’t report the matters.

It was reported in the article, one male victim alone deposited $1.4 Million through crypto ATMS with all funds being unrecoverable. Once the funds are deposited into the ATM they are converted to digital currencies which it is near impossible to recoup these funds.

What Non Monetary Loses did you identify?

With the increased Crypto Currency ATMS across Australia is it not only the concern of increased scam victims, it is also the heightened risk of drug purchases & other money laundering activities with AUSTRAC suspecting one in 10 transactions may be linked to illegal activity using these ATMS.

Not only are the victims at loss of funds that are deposited into these ATMs, they have more than likely provided personal details including their identification which can also result in ID theft or mule accounts being created in the victims details.

The goal of the importation & transportation of the illicit cigarettes was to avoid taxation on importation & sale. As such the ultimate victims are the Australian public due to the lost taxation revenue which is used to fund public services – hospitals, schools, roads, etc.

2. What was the impact of the crime in terms of monetary losses?

46 million illicit cigarettes. Taxation on cigarettes from March 2025 = $1.40312 per stick  $64.5m in lost taxation revenue.

ABC article from March 2025 suggest annual federal budget is lower by $6.9b due to illicit cigarette market. A booming trade in illegal cigarettes has cost the federal budget $6.9 billion - ABC News

3. What non-monetary losses are there?

Depending on where the illicit cigarettes end up there could be significant societal losses – e.g. children gaining access to cigarettes before the legal age, on-selling of illegal cigarettes to vulnerable communities sparking addiction and a perpetual cycle of harm.

The main victim of the crime was Oranga Tamariki (NZ government agency). Waka Kotahi (NZ transport agency) was also a victim as they were indirectly affected when Neha Sharma used forged references to gain employment there.

What was the impact of the crime in terms of monetary losses?

More than $2 million fraudulently obtained from Oranga Tamaraki through Neha's husband's company - Divine Connection, which was set up without disclosing conflict of interest. Additionally, just under $800,000 was laundered and transferred to bank accounts overseas (primarily in India), resulting in a significant financial impact.

What non-monetary losses did you identify?

The non-monetary losses include damage to public trust in government agencies and the confidence in the integrity of public institutions. This kind of abuse in power, especially when public funds are involved, can result in the loss of faith in how government agencies operate. The article has also highlighted failures in the review and hiring process, as there was an oversight when Neha applied at these agencies.

https://www.sfo.govt.nz/media-cases/media-releases/sfo-files-charges-against-former-oranga-tamariki-employee-over-2-million-fraud

John, Julie, their friends, family and work clients.

The impact of the crime in terms of monetary loss:

$370,000

Non-monetary impact of the crime:

A huge impact on Julie and John's mental health, including increased anxiety, stress, loss of trust in their professional relationships, and potential emotional strain on their family members.

of the crime?

• Northland retiree Steven Fan and now deceased pensioner Anthony Lipanovic - had been searching online for investment opportunities in December 2022. They stumbled across a website for Magnitude Financial where they registered their details.

• Beca - cause the business undue hardship by identifying that Carel Johannes Viljoen is connected with money laundering proceeds.

• The businessman himself Carel Johannes Viljoen - he trusted his brother and assumed the scheme was above board, he acted, with the benefit of hindsight.

  
  

2. What was the impact of the crime in terms of monetary losses?

Nearly $2 million - Fan transferred just shy of $1m on January 13, 2023. Lipanovic transferred $950,000 on January 21.

3. What non-monetary losses did you identify?

• Beca - Reputation and loss of employee

• Carel Johannes Viljoen - Lost his job, normal life, reputation and relationship with his brother.

• The victims - impact on their mental health and trust for investment and banks

  
  

• Customers of financial institutions, including a man and a woman, who had her identity credentials stolen by scammers impersonating bank employees

• Unsuspecting individuals are all potentially at risk of falling victim to such sophisticated scams

What was the impact of the crime in terms of monetary losses?

• $47,000 to one victim

• Almost $50,000 to another victim

• In 2024, AFCA made a landmark decision, in favour of compensating victims in sophisticated impersonation scams

What non-monetary losses did you identify?

• Stress for the victims

• Reputational damage to the financial institution

• Remediation/reimbursement processes for the financial institution

• Home-owners who received faulty apartments or had paid a deposit but never gained possession of their home.

• The creditors and the contractors who never got paid for their labour and hard work.

Monetary impact of the crime

• Creditors and sub-contractors lost their money amounting to tens of thousands of dollars.

Non-monetary impact of the crime

• Emotional distress - People who had put their life savings into purchasing a house, and not having received a possession underwent immense stress.

• Legal challenges - The subcontractors who had to fight for their due payments for their hard work had to go through gruesome and tiring lengthy legal processes.

Illegal phoenix activity directly impacts sub-contractors, creditors and employees as they are left unpaid and out of pocket.

The offender abandoned the company without paying its debts.

What was the impact of the crime in terms of monetary losses?

• Over a number of years, the offender had made several significant cash withdrawals totalling A$1.8 million from ATMs, including an A$650,000 cash withdrawal from ATMs at a casino.

• He also transferred A$831,000 from business bank accounts into his personal credit card accounts and other non-company bank accounts.

• There were non-payment of Goods and Services Tax (GST) and Pay-As-You-Go withholding (PAYGW) due to the ATO.

What non-monetary losses did you identify?

The offender installed family members and associates as directors. He used his relationships to conduct this illegal activity, and these relationships may have suffered from this. As well as his credibility in the welding/construction industry.

John and Julie who had all their life savings stolen and shares sold due to a complex identity theft having taken place whilst they were on holidays.

2. What was the impact of the crime in terms of monetary losses?

Life savings depleted from multiple accounts and shares sold totalling $370,000

3. What non-monetary losses did you identify?

The retired couple were victims of a sophisticated identity theft case. The couple suffered major anxiety and stress to this day, not knowing how they became a victim in this case and feeling like they were the criminals when attempting to identify themselves and recoup any stolen funds. The ordeal has taken a huge toll on both of John and Julie's mental health who have not lost trust in the major banks.

The victims would include the general public/tax payers as well as the government but more specifically businesses selling tobacco legitimately as they would lose their profit/revenue to the black economy.

1. What was the impact of the crime in terms of monetary losses?

According to the Australian Taxation Office, $6 billion worth of illicit tobacco was attempted to be smuggled into the Australian market in the 2022-23 financial year. In the 2023-2024 financial year, $58 million worth of illicit cigarettes, amounting to 6.7 million cigarettes, were seized by authorities.

1. What non-monetary losses did you identify?

Illicit cigarettes being sold to the public aids transnational serious organized crime syndicates. This has a greater loss to the general public in terms of the safety and security of the community.

The victims included a hospitality business in Belconnen, which was targeted through the theft of an EFTPOS machine. Additionally, 77 individuals were affected after their identity documents were found in the suspect’s possession, indicating widespread identity theft. Financial institutions and merchants were also likely impacted due to unauthorised transactions and fraudulent activities linked to the stolen identities.

2. What was the impact of the crime in terms of monetary losses?

The crime resulted in over $16,000 being stolen through unauthorised refunds processed via the stolen EFTPOS machine. Furthermore, the suspect allegedly attempted to steal an additional $55,000, indicating a significant financial threat. Investigations are ongoing, and further forensic analysis may uncover additional monetary losses tied to the fraudulent activities.

3. What non-monetary losses did you identify?

Non-monetary losses included the compromise of personal data and privacy for 77 individuals whose identity documents were misused. Victims likely experienced emotional and psychological distress, including anxiety and fear, as a result of the identity theft. Additionally, they may face a substantial administrative burden in restoring their identities, securing accounts, and mitigating the long-term effects of the fraud.

-          Although no direct victims in this case, the crime in and of itself fuels violence in our communities, addiction and organised crime. Friends and family of users are then affected by the suppliers/users of the drugs.

What was the impact of the crime in monetary issues?

-          Although a routine check, resources used during law enforcement operations and later in court. As well as health systems and rehab centres for users. Mules used in instance' can cause severe financial loss for innocent victims involved

What non-monetary losses did you identify?

-          Mental health impacted of family and friends of user/ supplier. Safety of community when violence erupts. Overall health and relationships are strained.

The Australian public are victims as taxes aren't paid on the products sold which in turn has an effect on the amount of money the government is able to spend on things the entire community benefit from. Other victims in this crime are the genuine tobacconists who lose revenue as consumers purchase these illegitimate products.

2. What was the impact of the crime in terms of monetary losses?

It's estimated that over $2.7 billion of tax was evaded through the illicit trade of tobacco in 2022/2023. The Australian Treasury department is forecasting a $6.9 billion reduction in the federal budget between now & 2029 as the result of the illegal tobacco trade & failure for the government to benefit from the steadily climbing tobacco excise.

3. What non-monetary losses did you identify?

Impact on genuine businesses operators

Impact on people's health with cheaper product flooding the market

Vulnerable domestic and international students are targeted with false promises and the lure of a job. These students were offered training and assessments to get fake qualification.

2. What was the impact of the crime in terms of monetary losses

All the students who have paid for these fake qualifications loose their money and the qualification they might have received will not be of any value.

3. what non monetary losses did you identify

Stress for victims and their families. Their valuable time is lost until they realise that their qualification is fake.

The victims are consumers as the assumption would be that these counterfeit goods were actually legitimate, along with legitimate businesses who have lost potential profits as well as brand reputational damage (again) due to these counterfeit items.

What was the impact of the crime in terms of monetary losses?

The group utilised social media sites to sell their goods and had allegedly moved approximately $9.75 million in profits through various bank accounts.

What non-monetary losses did you identify?

Only potential brand damage for the retailors selling the authentic items.

Employers using cash-in-hand work to pay off the books avoiding:

-          Income tax withholding and superannuation contributions

-          Award and penalty rates compliance

-          Workplace protections

Who are the victims of this crime?

1)      Workers – often underpaid – losing tax and super entitlements, award based wages, penalty rates and paid leave. They are unable to access legal recourse if they are unfairly dismissed or injured whilst working. This is a form of wage theft.

2)      Employers and Taxpayers – some businesses lose competitive edge because these people undercut prices and costs. Economy suffers due to less tax being paid and redistributed into the economy.

What was the impact of the crime in terms of monetary losses:

1)      Economy – less tax being paid and into economy, impacts investment and infrastructure. ATO estimates a tax gap from this shadow economy rose from ~3.8% of GDP in 2017 to ~5.3% in 2022, which equates to billions of dollars annually

2)      Unpaid wages and super – some large scale cases are George Calombaris who underpaid ~$7.8 million, University of Melbourne long term wage repayment of ~445 million – illustrate significant losses to workers

What Non monetary losses did you identify:

1)      Loss of legal rights and protections – i.e workers compensation, unfair dismissal, leave entitlements. Proper workplace conditions

2)      Psychological stress and exploitation – fear of reporting, especially among migrant workers

5)      Social inequality – fosters unfairness and reduce trust in labour and tax system

• Banks & Financial Institutions

• Individuals who had their identities stolen

• Automotive companies

  
  

What was the impact of the crime in terms of monetary losses?

• Defrauded several major banks and financiers of $178 million over seven years. 91 bank accounts were used to move the funds.

• NSWCC seized/froze roughly $38 million worth of assets

• 53 fraudulent loan applications.

  
  

What non-monetary losses did you identify?

• Reputational harm to financial institutions and industry trust due to the alleged involvement of insiders within banks.

• Emotional/psychological impact to individuals whose identities were stolen and used for loan applications.

  
  

By Angus Grigg, Neil Chenoweth and Kyle Taylor

• Four Corners

• Topic:Scams and Fraud

Mon 28 JulMonday 28 July

The ATO estimates 57,000 people were involved in the scam. (Four Corners: Nick Wiggins)

Link copied

Share article

It was a scam so simple it took just minutes on your phone, where you could tell the tax office how much money to pay you, and it came through within days.

The ATO loophole was so vast that tens of thousands of Australians stole a total of $2 billion.

It was Australia's largest GST fraud. But it did not need to be this way.

New details uncovered by Four Corners show the ATO was warned its systems were badly lacking, but even when it eventually discovered the fraud, it continued to pay out hundreds of millions of dollars.

The ATO maintains it cracked down hard on the scam, moving quickly to shut down the perpetrators and cut off the money.

The case of Linden Phillips would suggest otherwise.

It showcases in granular detail the ATO's failures and how, while some loopholes are closed, others are being exploited on a far larger scale.

The victims of the crime include:

-The Australian Community, including:

-Vulnerable peoples (e.g Gambling Addicts).

-Australian Tax Payers.

What was the impact of the crime in terms of monetary losses?

-The illegal offshore market in Australia was worth more than $1 billion, about 15 per cent of the total gambling market.

-They do they pay tax or fees to local sporting and racing bodies.

What non-monetary losses did you identify?

-Illegal offshore gambling providers are not bound by Australia’s consumer protection measures, nor do they pay tax or fees to local sporting and racing bodies.

-Lack of consumer protection and ability to self-exclude

-Reputational damage to australian consumers/companies who are lisenced.

o   People within the community that the sunglasses were going to be sold.

·       What was the impact in terms of monetary losses?

o   The cost of making the sunglasses,

o   The transportation costs to get them from Vietnam to Australia.

o   The purchasing of the sunglasses.

·       What non-monetary losses did you identify?

o   Reputation of the person who brought in the sunglasses.

o   Space in suitcase to bring in legal items.

o   Time losses for both the person that brought in the sunglasses and the border officers.

Illegal phoenix activity — where company directors deliberately collapse businesses to avoid debts, only to resurface under a new name — is one of Australia’s most destructive white-collar crimes.

1. Who were the victims of the crime:

Creditors and Suppliers

• Businesses and/or individuals who are owed money by a company that has been intentionally liquidated

Employees

• Losing wages, superannuation, leave entitlements

Competitors playing fair

• Distorts the market and disadvantages those trading responsibly and fairly

  2. What was the impact of the crime in terms of monetary losses: in Australia annually, it costs approximately:

• $3.3 billion in unpaid debts (leaving small businesses, contractors, and employees out of pocket).

• $1.5 billion in lost tax revenue (meaning fewer funding for infrastructure).

  3. What non monetary losses did you identify:

• Reputational damage in the sector/industry

• Lack of integrity or trust in the system/governance

• Loss f business relationships

• Employment and career damage

- Insurance companies involved in paying out fraudulent insurance claims.

- Drivers/Car Owners of vehicles in staged accidents/collisions (including those who may have been complicit).

- Other Australian drivers which may have been caught in the crossfire of the staged collisions or inconvenienced to take longer detours.

2. What was the impact of the crime in terms of monetary losses?

The monetary losses collectively are $390,000 worth of fraudulent insurance claim payouts. Other monetary losses may include the relevant law enforcement budgets and potential revisions or implementations of policies for insurance companies e.g. anti-fraud compliance measures.

3. What non-monetary losses did you identify?

The non-monetary losses include insurance companies' loss of credibility/reputation (may be targeted by those looking to lodge fraudulent claims), government/law enforcement resources in investigating and charging the perpetrator and reduction in available insurance investigators/assessors to resolve genuine insurance claims, wherein genuine customers may have been impacted as a result.

The Australian public who have had their identity used to facilitate these fraudulent loans are the victims in this scenario. Businesses that have provided goods/services as a result of the fraudulent loans and the financial institution providing funding are subsequent victims awaiting frozen assets to possibly recover goods/funds.

What was the impact of the crime in terms of monetary losses?

This investigation is still ongoing and the latest update on the syndicate indicates $53 million dollars in assets has been restrained however the ABS estimates 1.2% or 255,100 persons experienced identity theft in 2023-2024.

The impact also extends to the financial institutions providing funding to fraudulent loan applications.

What non monetary losses did you identify?

The emotional/physical and psychological damage to the individuals who have had their identity stolen and subsequently used for fraudulent loan applications as well as the reputational damage to the financial institutions and luxury car dealerships.

·         Government (reduced tobacco excise revenue and likely reduced GST and income tax)

·         Business selling legal tobacco (reduced income)

·         Local communities (criminal activities linked to illegal tobacco including firebombings, violent robberies, murders)

·         Individuals (health impact due to cheaper tobacco being easily available)

2. What was the impact of the crime in terms of monetary losses?

·         This year's federal budget contained an estimate of $7.4 billion from tobacco excise for the current financial year, down from $8.75 billion just six months ago in MYEFO.

·         Additional costs to fight the issue: $86.3 million a year budgeted by the Cth Government for its "Illicit Tobacco Compliance and Enforcement Package".

·         ATO: GST / Income tax losses due to undeclared sales (illegal tobacco) and reduced sales of legal tobacco.

·         Business selling legal tobacco losing income: for example Viva Energy, reported that tobacco sales were down 27 per cent because of the growth in the illicit tobacco trade.

·         Insurance / business / property owners’ costs: when a shop is torched. May also include WHS claims by employees linked to fires and robberies.

3. What non-monetary losses did you identify?

·         Increased criminal activities putting pressure on stretched law enforcement.

·         Potential for some businesses to have to close, or reduce their activity, if a large proportion of their income is linked to tobacco (e.g.petrol stations). This may be especially concerning in smaller towns.

·         Stress, trauma/PTSD for people (e.g. employees, neighbours, customers) that have been affected by firebombings and violent robberies.

·         Impact on communities and local councils, especially in smaller towns, where criminal activity may result in negatively impacting town’s reputation.

·         And it seems that (according to studies of wastewater) nicotine consumption in Australia is at an all-time high. Therefore there will be health impacts on individuals (and long-term increased costs to the health system).

of the crime?

Australian community as a whole is victim of this crime. There was loss of government revenues which could have been used for providing essential services to the community and many of the illegal cigarettes end up in hands of minors, causing further harm.

2. What was the impact of the crime in terms of monetary losses?

Loss of tax dollars in addition to cost of policing this activity are two major monetary losses identified in this.

3. What 

non-monetary losses did you identify?

Effect on health of minors and community and reputational loss for the country due to illegal activities taking place inside their borders.

• Legitimate business owners targeted by criminals.

• Community members requiring health services, impacted be reduced excise income.

• All Australian taxpayers, who have to subsidise services impacted by reduced excise income.

What was the impact of the crime in terms of monetary losses?

• Loss of ~$9B in excise revenue over 5 years.

• Organised crime is making about $10 billion a year in revenue from illicit tobacco sales

• Excise-evading cigarettes now comprise half of smoking products sold to Australia's 2.7 million smokers. This has a significant impact on Australia’s health system funding.

• Loss of income to surrounding business impacted by regular fire-bombings, creating a sense of fear in the community and an inability to trade.

What non-monetary losses did you identify?

• Loss of life – Employees of illicit tobacco sellers have been assaulted and murdered.

• Spikes in crime as criminals reap the benefits of increased revenue, leading to reduced community safety and confidence in law makers and law enforcement.

• Reduces health services / service quality as a result of reduced income from excises.

Who were the victims of the crime?

• Women on a dating app

What was the impact of the crime in terms of monetary losses?

• Multi-million dollar cybercrime

  
  

What non-monetary losses did you identify?

• Profound emotional and psychological impact - depression, anxiety, and post-traumatic stress disorder

• Intimacy and affection exploitation

• Profound sense of betrayal, emotional turmoil

• Persistent mistrust in future relationships

SA woman who falsely claimed welfare payments operated under alias Valentine Fox, court told - ABC News

1. Who were the victims of the crime?

Patricia Shirlene Dianna Hughes received double the amount of welfare payments due to double dipping under an alias name Valentine Fox. The victims are the vulnerable communities and individuals who missed out on access to welfare support of service. Also, taxpayers as well as Commonwealth who funds were misused.

2. What was the impact of the crime in terms of monetary losses?

$200,000 in welfare payments from Centrelink misused by the offender and people in her life.

3. What non-monetary losses did you identify?

Loss of the community trust in the Commonwealth system indicating that proper due diligence was probably not conducted resulting in the misuse of Taxpayers funds over 12 years.

of the crime?

The government is a victim, as the revenue from cigarettes and tobacco taxes allows the government to pay for publicly funded services like Healthcare. Legitimate shops and the tobacco industry also suffer as the unfair competitors surpass the markets for consumers. Finally, the consumer/community also suffers from illicit tobacco; the stores that supply the illegal substances may be engaging in other unlawful activities. There is also no quality control, which means that there is no guarantee that the product being distributed is not laced with other substances. These links heighten public health concerns that could compromise public trust in regulatory bodies. (Australian Criminal Intelligence Commission [ACIC], 2023).

2. What was the impact of the crime in terms of monetary losses?

Regarding the monetary losses, the Australian government will lose billions of dollars every year in unpaid tobacco taxes. This decrease reduces the finances available for services like public hospitals, public transport, and law enforcement.(ACIC, 2023; KPMG, 2022)

3. What 

Non-monetary losses did you identify?

• Public Health Risk - often unregulated and may contain harmful products

• Disrupting tobacco legislation and policies - making smoking products more accessible allows minors ( under 18 years of age ) to purchase and consume the products

• Increase in crime activity - violence, corruption, tax evasion, extortion, and money laundering

• Societal harm - reducing the community's trust in regulatory boards and law enforcement.

REFERENCES

Australian Criminal Intelligence Commission. (2023). Illicit tobacco in Australia. https://www.acic.gov.au

KPMG. (2022). Illicit tobacco in Australia report. https://home.kpmg/au