How to avoid becoming a money mule

[harlan4096]

This article explains what might happen if someone transfers you funds and then you withdraw the equivalent in cash from your account to give to them, or if you use your own card to pay for a purchase they make

 
Picture this: you’re on a train chatting with a nice lady and her young child — visitors to your home city. As the train approaches the station, she reaches for her wallet, pulls out a bank card, and her face falls. “Oh no! I accidentally snaped my card!” she exclaims. “What am I going to do now? I needed to withdraw cash…” Could I transfer you some money, so you can then withdraw it for me at an ATM?”

Most people would agree to help. She’s a young lady with a child in a new city after all, and she’s in a tight spot. What could go wrong? And she’s not asking for money — she’s sending it to you. It seems completely harmless. The money is quickly transferred to your account, you withdraw the cash from your account from an ATM, and the woman thanks you enthusiastically before disappearing into the crowds. But a couple of weeks later the police show up at your door…

You thought you were doing a good deed, but you’ve just become an unwitting participant in a money laundering scheme. People who help criminals move stolen money through their bank accounts are called “money mules”. Today we explain how you can accidentally become a money mule, and the serious consequences you could face.

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