Money mule

Money mule is an individual who is recruited to illegally transfer money acquired from criminal activity such as phishing, counterfeiting, or identity theft. Money mules are typically paid to forward money acquired through online scams, often collected through information stolen from unsuspecting victims. Money mules are often recruited through email or social media ads, placing false job postings to entice individuals to carry out criminal activity.

Money mules are primarily used to transfer funds to legitimate accounts for the purpose of concealing the criminal’s identity. The mule deposits the stolen funds into an account, typically with a bank, and then withdraws the money from the account and send it on to the criminal’s designated destination. Mules may also be asked to make payments to third parties on behalf of the criminal’s organization, as a way of laundering illegally-obtained money.

Money mules can be identified by the use of fake names and banking information on wire transfers, fraudulent online banking and credit card purchases, or by unusual patterns of money coming in and out of an account. Additionally, money mules often travel from one country to another, exchanging currency or wiring funds to avoid detection. Financial institutions and other organizations may also detect the use of money mules by tracking large and repeated wire transfers and/or payments to the same destination account, or by recognizing multiple accounts are linked in some way and working together.

Money mules are, in essence, laundering money for criminals without knowing it. Money mules do not typically benefit from the activity, and may be arrested and prosecuted for their role in the crime. To avoid becoming a money mule, it is important to be vigilant online and always exercise caution when responding to job postings or other requests for personal information.