What is a Money Mule?

You’ve probably heard the term “money mule” on the news, but what does it actually mean? A money mule is someone who moves stolen money on behalf of criminals, sometimes without even realising they’re doing it.

It often starts with a message that sounds harmless: someone online asks for help moving funds or offers to pay you to let them use your bank account. They might say it’s for a “business opportunity”, a “charity transfer”, or even a “romance partner who needs help overseas”. (long-time readers will recognise these red flags)

But here’s the catch. That money often comes from scams, stolen identities, or other cybercrime activities. When you allow your account to be used, even if you didn’t know, you can still be charged with money laundering.

Why Do Criminals Use a Money Mule

Just like mobsters in the streets, cybercriminals need to "launder" their ill-gotten

gains, so they use ordinary people as money mules to hide their tracks. They're hoping banks and police won’t notice when money moves through dozens of personal accounts. Sadly, many people caught up in these schemes are retirees or students who thought they were helping someone.

How to Stay Smart, Secure and Connected

If anyone offers you money to move funds, share your bank details, or receive deposits, stop and think:

• Why me?

• Do I really know this person?

• Does this sound too easy to be true?

  
  

If something doesn’t feel right, talk to a family member or friend, and you should also speak to your bank or the police. You’ll never get in trouble for asking questions before agreeing to 'help' someone, but you might if you don’t.

Being smart, secure, and connected means knowing that your bank account is yours alone. Keep it that way and avoid becoming a money mule.