Commonwealth Bank Flags Gumtree Ads In Money Laundering Scam

The Commonwealth Bank has warned users of popular Australian community site Gumtree to be wary of possible money laundering scams.

The bank's internal audit team flagged ads which posed as job advertisements but were merely elaborate methods of moving money into and out of users accounts.

Australian IT reported that the Commonwealth Bank froze the account of an international student at a Sydney university after she replied to an ad on Gumtree.

The ad sought drivers to pick up visitors from Sydney airport but on applying for the position, the student was asked for her bank account details.

The fraudsters deposited $2000 into the student's account and asked her to transfer it to a third-party account. However, the account was allegedly frozen by the Commonwealth Bank as a fraudulent transaction.

It is thought the money was originally obtained through a phishing scam.

The UK-based Gumtree advised its users to use common sense and withhold bank account details when responding to job advertisements on the site.