Money mule

What is a money mule?

Money mules are recruited, sometimes without realising by criminals to transfer illegally obtained money between different bank accounts. Money mules receive the stolen funds into their account, they are then asked to withdraw it or transfer the money to a different account. This is often to an overseas account. The money mule often receives payment for doing this.

Even if you’re unaware that the money you’re transferring was illegally obtained, you have played an important role in fraud and money laundering. This means you can still be prosecuted. Criminals will often use fake job adverts or create social media posts about opportunities to make money quickly, to persuade people to become an unintended money mule.

Money mules could be criminally prosecuted for carrying out the transactions, their accounts could be closed and they could be held liable for the value of the transactions they received.

Tips to avoid being used as a money mule:

• Be cautious if you receive unsolicited offers or opportunities offering you the chance to make easy money.
• Take steps to verify any company that makes you a job offer.
• Check the contact details (address, phone number, email address and website) of any company who offer you a job.
• Check any company who offer you a job is registered in the UK.
• Don't respond to unsolicited job offers that arrive by email.
• Be wary of companies offering substantial 'work from home' tasks requiring no experience.
• Never give your bank details to anyone unless you know them.
• No company should ask you to carry out international financial transactions for them, using your personal bank or building society account.
  
  For more tips watch the Money Mule’s ‘Don't be fooled’ video. Please note Principality is not responsible for content on other external sites.