Money Mule
Never let anyone use your bank account
You are a money mule if you let someone use your bank account to receive or send money that comes from criminal activity – even if you do not know where the money comes from.
Even though it may seem harmless, it is a form of money laundering, and you can be punished with fines or imprisonment.Therefore: Never let anyone use your bank account.
Where can the money come from?
The money transferred via money mules often comes from criminal activities such as:
- Fraud and deception
- Drug trafficking
- Identity theft and phishing
Even if you do not know exactly where the money comes from, you can be prosecuted for participating in money laundering.
How does it happen?
Criminals may contact you via social media, email or messages and ask you to:
- Receive money into your account
- Transfer them onwards to another account
- Carry out transactions for a small fee
This may seem innocent, but it is part of a larger criminal operation.
What can happen to you?
- You risk fines and imprisonment.
- You may be registered as a participant in financial crime.
- You may lose the bank's trust and have reduced access to services such as loans, cards and online banking.
How to protect yourself?
- Be critical of requests asking you to transfer money.
- Never share your BankID, password or account information.
- Follow the memory rule: Stop – Think – Check.
- Contact the bank immediately if you suspect fraud.
Increasing fraud method
- The use of money mules has increased significantly in recent years
- Be sceptical of easy money
- Young people between 14 and 24 years old are most often persuaded