Money Laundering

Money Laundering

Money Laundering is the process criminals use to make dirty money appear clean in their bank accounts. This usually involves large sums of illegally earned money being passed through a money mule’s bank account. As the money mule’s account will have a clean record, this makes the money appear legitimate and therefore allows criminals to transfer dirty money undetected. 

Fraudsters usually find their money mules without them being aware, and once they have your details it may be hard to get out of it as you could face threats unless you continue to allow them to use your account. As money mules are normally given a percentage of the money, it means that you will be an accomplice in their crime. They normally find money mules through fake job ads that claim you can make easy money fast. Ads may sound something like this;

 

Whilst becoming making easy money, knowingly or unknowingly illegally, may seem attractive, getting involved means you could be helping to finance huge criminal operations such as child trafficking. Furthermore, if you get caught you could have your bank closed, struggle to get any student loans, phone contracts, apply for credit cards, getting tenancy agreements and could even go to prison for up to 14 years. 

 

To avoid becoming a victim of money laundering, you can do some things to keep yourself safe.

Don’t give your bank details to anyone you don’t know and trust

Be wary of job offers that involve online transactions

Be cautious of unsolicited money offers

Research any company that gives you a job offer

Be wary of overseas job offers

Be wary of job ads that are written poorly or have grammatical mistakes

For more recourses about money laundering visit don’t be fooled.