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What is a Money Mule?

Money Mule is a term used to describe innocent victims who are duped by fraudsters into laundering stolen/illegal money via their bank account(s). When such incidents are reported, the money mule becomes the target of police investigations, due to their involvement.

How do fraudsters operate?

1. Fraudsters contact customers via emails, chat rooms, job websites or blogs, and convince them to receive money into their bank accounts, in exchange for attractive commissions.

2. The fraudsters then transfer the illegal money into the money mule’s account.

3. The money mule is then directed to transfer the money to another money mule’s account – starting a chain that ultimately results in the money getting transferred to the fraudster’s account.

4. When such frauds are reported, the money mule becomes the target of police investigations.

[ In conjunction with ‘Cyber Jagrookta (Awareness) Diwas’ – Ministry of Home Affairs (GOI).]