Money mules are all about transferring stolen money, from one place to another. Even money transferring people don’t know about it being stolen money and they are involved in illegal activities, in such cases innocent are becoming money mule victims
What is a money mule scam
A money mule is a word that refers to a person who transfers stolen money from one account to another in different ways in the form of bank accounts, cashier’s checks, virtual currency, prepaid debit cards, and money service businesses throughout the world, by using other accounts and courier services.
Scammers approach you in the form of offering jobs like work from home, account management, financial asset transformer, and so on.
Money mules happen in various ways and it becomes a big problem to catch money mule victims. When such incidents are reported, the money mule victims become the subject of police inquiries as a result of criminal involvement. In some times innocent ones also suffered because of the money mule scam.
Way to escape from a money mule scam
Money mules are an illegal factor, don’t encourage them in any situation. Here are a few steps to escape from a money mule scam,
- won’t treat when some are showing job offers without proper approval and identification
- Don’t reply to unwanted emails especially when they ask for your bank details and offer exciting pricing gifts.
- Don’t open a new account for anyone else
- If you find any illegal activities like money mules, file a complaint on them, make a single call or msg to IFT, it is enough to catch criminals.
- Don’t give back details or never share your personal information with strangers
- Criminals are working too smart nowadays, they pretend to act like there are job holders or innocent ones to trap for to move money from one place to other
- Never show invest on money mule remuneration
Is money mule is an illegal activity
Yes! It is a completely illegal activity. Money mules are considered as criminal activity, government authorities working hard to find Nespresso money mules more than 35 cases are traced out and punishable for a lifetime. innocent ones are also suffering with it in some cases, even they don’t know about what is it and what’s going on, with names of jobs trapped then into illegal activity.
Risk factors in money mule
Involving in money mules is about risk, having to face legal problems and completely show the effect on the further growth of a victim.
- Maybe it damages your personal, career life.
- Leads to hacking your bank account details leads to financial issues.
- The victim stands as a criminal in society.
- Life long penalties and they become money mule jailed.
- Entirely it shows the result as huge damage and spoiling life.
- Sometimes it leads to the destruction of mental health if they are innocent victims.
React on illegal factors
When anyone finds any activity that is going in an illegal path take a forward step and intimate government officials to catch them. When scammers ask to create a money mule account take immediate action on them.
Steps involved in money mule process
Within a few steps, money mules can transfer money from one account to another through global.
- Scammers are going to contact and provide offers in the form of calls, letters, emails, messages.
- They offer attractive price gifts to grab customers into their trap.
- Then scammer going to transfer scammed money into mules account
- Mules are going to transfer illegal money to another mule account at a fixed and date.
- That’s the entire process, in that case, government officials are going to catch mules by analyzing transaction details. Scammers escape easily but money mules are punishable.
A money mule is considered a crime so be aware of it. Don’t trust how they offer exclusive payment, especially when they ask to transfer money or account details.