How to Spot the Warning Signs of a Money Mule Scam

Most scams revolve around criminals trying to steal your money. Money mule scammers often aim to do that, too. Their ultimate objective, though, is to turn you into someone who helps them

steal from others. Money mules are people enlisted, often unwittingly, to serve as conduits for illegal gains, receiving scam proceeds from other targets and passing them along to the

criminals. By acting as intermediaries, the mules give criminals a cheap way to move money and cover their tracks. According to a 2024 report by Verfin, part of Nasdaq, an estimated $3.1

trillion in illicit funds flowed through the global financial system funding human trafficking, drug trafficking and terrorism. You or your loved one may be recruited through an online

romance, offered a job or contacted through social media sites such as Instagram. Some targets believe the cover story and don’t realize that they’re being manipulated into abetting serial

fraud. Others may see through the ruse but continue to participate, tempted by monetary gain or fearful of retribution if they cut the criminals off. But being a money mule can be very

costly, whether you know you’re doing it or not. If law enforcement gets wise to the underlying fraud, the criminals may simply vanish, leaving the mules to face consequences that can range

from loss of banking privileges and reduced credit scores to prosecution, fines and jail time. Join Our Fight Against Fraud Sign up to become a digital fraud fighter and help people 50 and

older identify and avoid scams. Video: Scammers Want You to Be Their Money Mule WARNING SIGNS THAT YOU MAY BECOME A MONEY MULE Operators, often members of international criminal rings,

recruit mules in a variety of ways: ONLINE ROMANCE. The seeming sweetheart who’s been cultivating your affection and trust since you met on social media or a dating app will take advantage

of your kind nature and ask you to send them money to help an ailing mother or for plane tickets to visit you. “They build up this this emotional bond, and they get these victims to a point,

…  where these scammers can say … ‘I'm having trouble. Can you help me?’ These victims don't think twice,” says Jennifer Pitt, senior fraud prevention analyst with Javelin

Strategy & Research. JOB OFFERS FOR EASY MONEY. Sometimes they pose as employers, posting job ads or sending out email and social media messages touting work-at-home gigs as a “finance

officer” or “money processing agent.” You’re asked to set up a bank account in your own name, and deposit money and transfer the funds to other people you don’t know. You get to take a small

commission from the money you transfer, which makes you an accessory in the law’s eyes.