Money mule
Money mules
Just Tell Me
A money mule helps move money from criminal activity, for example by receiving and transferring scam proceeds or letting criminals use their bank account.
Also called: Money mules
Explain Like I’m Five
A scammer may put someone else’s bank account between a victim and themselves. Money passes through that account before moving on, making its trail harder to follow. The account holder may move the money themselves or hand over control of the account.
Where You’ll Run Into It
In Singapore Police Force scam warnings, bank-account safety messages and offers of easy payment for letting someone use your account. Transfers can involve familiar services such as internet banking and PayNow.
Police and MAS work on measures against accounts used to move scam proceeds. Their warnings also cover Singpass access that can be exploited to open accounts for scams.
Example
“They’ll pay me just to receive money and send it to another account.”
That offer matches a pattern the police warn about: recruiting someone to move money for others. Calling it a job does not establish that the money is legitimate.
The Part People Get Wrong
A person does not have to speak to the scam victim to play a role in the scam. Selling or renting out an account can also help criminals move the proceeds and can lead to criminal investigation.
Sources
Related
- moneyMAS (Monetary Authority of Singapore)Updated
MAS is Singapore’s central bank and financial regulator, overseeing financial institutions, monetary policy and payment systems.
- moneyPayNowUpdated
PayNow lets users send Singapore-dollar funds instantly between participating bank or e-wallet accounts using an identifier or supported QR code.
- moneySingpassUpdated
Singpass is Singapore’s national digital identity service for securely accessing and authorising transactions with government and participating private services.