A cyber fraud expert who helped bust sophisticated “boiler room” syndicates has warned authorities about terrorists setting up online scams to raise money for criminal cells.
IFW Global Investigations executive chairman Ken Gamble helped hunt down Peter Foster after he allegedly defrauded victims of up to $11.5 million through his Sports Trading Club
The security specialist provided evidence to Queensland’s Crime and Corruption Commission detailing former detective Mick Featherstone’s alleged involvement in an alleged $20 million scam. Featherstone — a former Surfers Paradise CIB detective boss — was arrested alongside wife Zoei and son Zach on Wednesday over their roles in allegedly defrauding up to 600 victims through multiple scam companies.
“What I’ve recommended (to Australian authorities) is that they need a specific anti-fraud taskforce to target cyber fraud.”
The Gold Coast has emerged as one of the nation’s “boiler room” hot spots. New players are predicted to replace syndicates closed down by police.
Queensland police have shut down outlaw motorcycle gang scams that had targeted victims through
The Weekend Australian can reveal crime
“It’s a classic clone of what happened with the mafia in the US; they moved away from traditional racketeering and murder for hire into online crime.
“It’s worth hundreds of millions of dollars in Australia.”
The 53-year-old was released from prison last October after his lawyers made secret submissions to the Federal Court.
Source: The Australian