An arrest warrant has been issued for an alleged scam kingpin extorting older Australians by posing as Australian Federal Police (AFP) and demanding cash over the phone.
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The 29-year-old "orchestrator of the scam" was identified by investigators after two key members of his alleged operation were arrested, police said.
AFP believe the alleged kingpin fled Australia for India as the police search continues.
AFP detective sergeant Matthew Veraguth said police "will never seek money over the phone or in person, much less to 'settle' criminal offences".
"The AFP is not a payment collection agency and any request for money or access to bank accounts is an indicator of fraud," he said.
Police impersonator phone scam
Police allege the scam included using "spoofed" phone numbers to appear as legitimate government agencies while con artists told victims their identity had been stolen and bank accounts had been created in their name.
The 11 identified victims, aged between 50 and 90 years, were told they would be arrested for money laundering if identity information and bank details weren't provided over the phone, police said.
Victims would be asked to transfer funds through a variety of methods. Police believe more than $30,000 were transferred to the scammers using gift cards.
"If you are contacted by someone claiming to be an AFP officer, ask for their name and badge number - they must provide this to you," detective sergeant Veraguth said.
"Hang up immediately and call the AFP Switchboard on (02) 5126 0000 to verify the information they have provided you."
If you have suffered any financial loss as the result of fraud, report it immediately via the Scamwatch website.