Money Mule

Don’t Be Fooled don't become a money mule!

What is a money mule?

A money mule is someone who is asked by a third party to receive money into their bank account and transfer it onto another account, keeping some of the cash for themselves.

The money being transferred is the proceeds of crime.

If you are a money mule, you are involved in money laundering, which is a crime.

Not knowing that it’s a crime is no excuse – you could still be prosecuted by the police.

When you are caught being a money mule,

  • your bank account will be closed
  • you will find it hard to access further student loans
  • it will be difficult to get a mobile contract
  • you will have problems applying for credit
  • you could go to prison for up to 14 years

Do you know who you are speaking to?

Criminals often pose as employers. They might offer you a job that involves receiving money into your bank account and transferring it onto another account, letting you keep some of the cash for yourself.

Doing this would make you a money mule.

Banks have sophisticated systems in place to detect suspicious money moving across accounts.

They report this to the authorities.

If you are prosecuted for being a money mule, you could go to prison for up to 14 years.

The organised criminal gangs behind money mules often use the proceeds of crime to commit other serious offences such as drug and people trafficking and terrorism.

People that are recruited as money mules can be threatened with violence or physically attacked if they do not continue to let their account be used to transfer money.

Top Tips

Don’t give your bank account details to anyone unless you know and trust them.

Be very cautious of unsolicited offers of easy money.

If it sounds too good to be true, it probably is.

Research any company that makes you a job offer and make sure their contact details (address, landline phone number, email address and website) are genuine.

Be wary of job offers from people or companies overseas as it will be harder for you to find out if they are legitimate.

Be wary of ads that are written in poor English, with grammatical errors and spelling mistakes.

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