Scammers are using fake "mule" bank accounts to defraud Australians, often targeting international students.

Australians are losing millions to scammers using "mule" accounts, which are often created with little to no ID verification. Cybercrime experts report that bank transfers, making up 44.5% of losses, are the most common payment method for scammers. Scammers target international students and non-permanent residents. The Australian Federal Police warns that those caught participating can face up to life in prison.