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'Perfect storm': How banks allegedly defrauded of up to $600m

NSW police say one of Australia's largest fraud syndicates has fleeced banks of up to $600 million in fraudulent loans in what one investigator described as the largest financial crime he has seen.

1 report1 sourceSep 10, 2026, 6:31 AM
FilterABC Australia
Clustered coverageABC Australia
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ABC AustraliaSep 10, 2026, 6:31 AM

'Perfect storm': How banks allegedly defrauded of up to $600m

NSW police say one of Australia's largest fraud syndicates has fleeced banks of up to $600 million in fraudulent loans in what one investigator described as the largest financial crime he has seen.

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