Money mules

A money mule is someone who receives illicit money into their bank account and transfers it on to another account. The mules are often promised money, a percentage of the transfer or gifts in return.

In order to move on illicit funds, criminals use money mules to launder the profits of their crimes.  Typically, younger adults are targeted via social media, clubs, schools or universities, and may be unaware of the consequences of them allowing their bank account to be used. 

A mule may also be someone who receives money and purchases a vehicle on behalf of someone else and then shortly afterwards disposes of the vehicle but passes the funds received on to the person for whom they purchased it. 

Once identified, the consequences of being a money mule can be quite severe. Money muling is a criminal offence and, by allowing it to happen, you could find yourself with a criminal record. 

Other consequences include:

• Your bank account being closed.
• Potential removal from university or professional organisations.
• Difficulty in obtaining employment.
• Difficulty in gaining credit, a mortgage or even a phone contract. 

Those who become money mules are often unaware that the cash they are laundering is used by criminals to facilitate serious crimes such as terrorism, drug trafficking and people smuggling. In some instances, it may result in a custodial sentence of up to 14 years.

Be aware

• Unsolicited "job offers" via social media.
• Large payment for low effort, offers of quick cash.
• Jobs that ask if they can use your bank account or ask for information so they can apply for accounts in your name. 

Refer to: Money mules: If it sounds too good to be true, it probably is.