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What is a money mule, and why should you never let others use your bank account?

Easy money that costs a lot

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Short answer

A money mule is a person who transfers money for criminals, which lets organised criminals launder money from crime. The offers often look like a job, and the tasks always include using your bank account to move money. To look trustworthy, criminals may copy a company's website with a similar web address. If you take part, your bank account can be closed, you may find it hard to open a new account or get a credit card, and you risk violence or threats of violence.

Practical info

Why

  1. The money in a mule account comes from crime.
  2. Banks close accounts used for money laundering.
  3. Criminals target people who want easy money.

Details

Never open a bank account because someone you just met asks you to.

Tip

If you think you are involved, stop all transfers at once, tell your bank or payment service and contact the police.

What may differ

The offers change form over time, so be wary of any offer of easy money for using your account.

Common misconception

Letting someone use your account is harmless if you keep none of the money.

What actually happens

Moving money for others through your account helps criminals launder money, even if you keep nothing.

People also ask

  • Can I lose my bank account for money laundering?
  • How do criminals recruit money mules?
  • What do I do if I already moved money for someone?

Sources

This answer is for reference only. Payment rules, limits and fees change, so check the official sources or your bank before you pay.

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