I've lived in the Sydney CBD (Haymarket) for 10 years. I don't own a car because I don't need one. I jaywalk at every opportunity many times every day. I've never been fined for jaywalking.
One time I was crossing the street with my wife near Town Hall against a red pedestrian light and I was smiling because of the conversation. We were walking toward two uniformed NSW Police officers whom I failed to notice as I was looking out for traffic when crossing the street. One of them, in her twenties, snapped at me like I was a naughty child (I'm around 50) with "you have the nerve to smile while illegally crossing? I could fine you you know". I didn't want a fine so stopped smiling and apologised and continued on my way.
That said occasionally there is a coordinated session where they hang out at specific intersections waiting to fine people but they don't try to hide themselves (usually there's a parked police motorcycle on one corner of the intersection, etc.)