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Does a Money Mule even know who the Money Mule is?

A money mule is sometimes known as a ‘’smurfer’’, which is a person who illegally transfers stolen money, electronically or on the behalf of others. Typically, the mule receives a payment for the money transferred.  Money mules are often recruited on-line with the perception that they are being recruited for legitimate employment, unaware that they are involved in criminal activity. The money is often transferred from the mule’s account to scam the operator and typically in another country.

#Amwriting As long ago in 2015 people in the west Midlands were warned about these #cyber crimes. Professional criminals were targeting students into making their bank accounts available for receiving dodgy money.

The Students are told they are taking on a legitimate job as 'MONEY TRANSFER AGENTS' and given a small percentage of the money going through their account.

Unfortunately this is a prisonable offence. While banks can reverse a transaction - only from the 'Mule's account" not further on - so it is the student who goes to jail not the thief.

In 2018 the BBC did an undercover report - BBC South East uncovered dozens of Instagram accounts used by criminals to tempt students - and a gang member said payments of £9,000 drew people in.

Please re-post -to spread the word - and warn young people - of this beastly scam that could land them with a prison sentence - before they start a wonderful career


According to the Register ;

"The thief is really stealing from the mule, not the compromised account, though that fact does not become clear until the dust settles," the researchers write.

But the Banks can only reverse transactions from the Mules Account - whom they prosecute. 

"Money mules are not merely unwitting accomplices, they are the true victims in credential theft fraud," Cormac Herley and Dinei Florencio of Microsoft Research argue

Similar techniques are used for transferring illegal merchandise. The mules are recruited and used to transfer money from online fraud such as malware scams, phishing scams or scams through auction sites such as eBay. Once the money has been stolen the criminal employs a mule to transfer the goods or money whilst hiding the criminal’s true identity and location from the victim and legal authorities.  The use of instant payment such as Western Union, allows the mules to receive the money without being traceable.

Protect our young students - spread the word