Money Mule Risk

Money Mule is a way of money laundering, which means that fraudsters engage other person as intermediary to launder illegally obtained funds.

The fraudsters offer remuneration for transferring the funds received by you to the account they specify, thus concealing their identity and the origin of funds.

If you engage in such transactions, you can be involved in money laundering.

To avoid falling a victim of money mule:

  • do not disclose your bank account details to unknown or little-known people (including those met on the Internet);
  • do not agree to your account being used by unknown or little-known people for receipt of funds and their further transfer to other persons’ accounts;
  • in case of suspicion or doubt, contact the bank.