The Federal Bureau of Investigation (FBI)  has issued warnings that job advertisements providing opportunities to earn a significant income while working at home may potentially involve illicit activities, like recruiting individuals as money mules.

Criminal organizations may recruit vulnerable job seekers to facilitate the transfer of funds acquired through illegal activities such as scams, human trafficking, and drug trade. FBI Special Agent Thomas Agree reportedly said. “They’re enlisting people to help launder the funds from the illegal activity into the clean economy.”

Warning Signs of Money Mule Schemes

FBI has also instructed individuals how to spot warning signs, offering vital tips, to help them protect themselves from such crimes and stay ahead of the potential threats.

When there is a request to transfer via bank accounts, cashier’s checks, virtual currency, prepaid debit cards, or money service businesses, there’s a possibility that it might be a money mule scheme. In such cases, the individual serving as a money mule may face consequences without being aware of the circumstances.

Talking about the consequences of the money muling, Thomas Agree stated, “Acting as a money mule, even if you’re not aware that you’re committing a crime, is illegal, and it is punishable.”
Here are some red flags associated with money mule schemes;

• Being asked to open a bank account to receive or transfer funds
• Employers using Gmail, Yahoo, Hotmail or Outlook
• Asked to receive or transfer funds via wire transfers, mail or money service businesses
• Offering to keep a portion of transferred funds

To ensure security, it is always thoughtful to verify the legitimacy of a company online before disclosing any personal information. The FBI that anyone suspecting their involvement as a money mule should cease all communications and promptly report to the police.

What does money mule mean?

Money muling, a type of money laundering, where an individual is referred to as a ‘money mule’ receives funds in his bank account from a third party. The funds are mostly the gains from illicit activities like cybercrimes, human trafficking, drug trade, or online fraud. Although money mules are not directly engaged in illegal activities producing funds, still they serve as an accomplice in laundering the proceeds. In simple terms, they assist criminal organizations in remaining anonymous while facilitating global funds transfer.
Also read: Placement Stage Money Laundering & its Tactics