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Update · 11:16 am AEST · 11 September 2026

10 DAYS AGO Share

Sydney syndicate allegedly defrauds banks of $600m in loans

Sydney syndicate allegedly defrauds banks of $600m in loans
Photograph: ABC business (AU)

A Sydney crime syndicate has allegedly defrauded Australian banks of up to $600 million through large-scale fraudulent loan applications, NSW Police said on Thursday.

Police charged three people on Wednesday, including an accounting firm director and two accountants from Bankstown, bringing the total number of people charged by Strike Force Myddleton to 33.

– ABC business (AU)

'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. abc.net.au
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