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Money mules are people who agree to move stolen or illegally gained money through their accounts, or sell their active debit cards. They are often recruited through fake job advertisements or social media posts, which boast of opportunities to make money quickly.

Money mules may be paid to receive stolen money into their account and wire a portion of that money to a different account, often overseas. Some money mules do this illegal act unknowingly, causing them to play a part in fraud and money laundering.

 

Don’t be a money mule

Never accept any request to receive and transfer money to or from your account, especially from unknown individuals or companies.

 

How this could happen

1: Contact


You are contacted by someone who offers to pay you to receive money in your account and transfer it to another account, or to simply buy your active debit card.


2: Belief


Because it seems like an easy way to make some money, you receive the funds and transfer them, or sell your active card for a certain amount of money.


3: Reality


Under the Anti-Money Laundering Act (AMLA) Law R.A. No. 9160 as amended, even if you only served as an instrument to the illegal act, you can be blacklisted from obtaining financial services, imprisoned from 7 up to 14 years and fined not less than Php 3 million.


4: Result


You have taken part in a criminal act, and you will be in trouble if the money trail is followed. Even if you didn’t know that it was “dirty money,” you will still be liable for fraud and money laundering.


Money Mule Examples

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