Money Muling

Another important anti fraud article sent to me by regular visitor, John in Blacon. Although not specifically related to Chester it can obviously encompass Chester as well. The fraud alert to be aware of this time is Money Muling. In case you don’t know what money muling is have a read of what John sent me.

Money Muling

‘Money Mules’: The ‘Cottage Industry’ Targeting the Vulnerable

REPORT FROM ACTION FRAUD UK

“Money Muling”

“Who or what is a money mule. A money mule is a person who transfers stolen money between different countries. Money mules are recruited, sometimes unwittingly, by criminals to transfer illegally obtained money between different bank accounts.

Money mules receive the stolen funds into their account. They are then asked to withdraw it and wire the money to a different account, often one overseas, keeping some of the money for themselves.

Even if you’re unaware that the money you’re transferring was illegally obtained, you have played an important role in fraud and money laundering, and can still be prosecuted.

Criminals will often use fake job adverts. Or create social media posts about opportunities to make money quickly, in order to lure potential money mule recruits.

Behaviours that put you at risk of becoming a money mule: Responding to job adverts, or social media posts that promise large amounts of money for very little work.

Failing to research a potential employer, particularly one based overseas, before handing over your personal or financial details to them. Allowing an employer, or someone you don’t know and trust, to use your bank account to transfer money.

Money Muling What Can We Do?

How to protect yourself: No legitimate company will ever ask you to use your own bank account to transfer their money. Don’t accept any job offers that ask you to do this.

Be especially wary of job offers from people or companies overseas as it will be harder for you to find out if they really are legitimate.

Never give your financial details to someone you don’t know and trust.

Much more can be learnt about this SCAM/FRAUD in the BBC article below and why one must NEVER allow themselves to get unwillingly involved in it:

BBC N IRELAND 07:00 17/11/2019

‘Money mules’: The ‘cottage industry’ targeting the vulnerable https://www.bbc.co.uk/news/uk-northern-ireland-50432604

Rise in teenage money mules prompts warnings https://www.bbc.co.uk/news/business-49717288

I was a teenage ‘money mule’ https://www.bbc.co.uk/news/business-43897614“

Valuable Information

Thanks again John. Yet another very useful anti fraud scam alert. As I’ve said before it is such a shame that these things need to be reported but on the other hand it is so very useful that we have someone locally who is so very diligent in flushing these articles out and passing on such vital assistance and warnings.

Reading the above article makes me look at the whole situation from my own point of view. I’m sure I’m not alone in saying that I’ve received countless spam emails inviting me to partake in helping to move funds from one account to another. I always ignore them and flag them as spam.

Too Good To Be True

You know the sort of thing, there is an unclaimed $000,000,000’s balance of money in an account somewhere in the world. If we can help move it to where it should be we can keep a chunk of the money.

How simple does that sound? A piece of cake isn’t it it would seem. Just on that last point, here’s a general rule I’ve always adhered to and that is – if it looks too good to be true then it probably is too good to be true. In other words don’t touch it with a barge pole.

Spread the word. Again it goes without saying that we should not only take onboard the vital information provided but we should spread the word wherever we can. Post this link onto your Social Media accounts if you have any. Or, mention it in any forums you may be a member of.

Money Muling – You’ve Been Warned.

Chester Crimewatch

Another worthy addition to my Chester Crimewatch section. For all other Chester Crimewatch posts apart from this money muling article – have a look HERE.

Chester Lifestyle Latest Blog Posts

And for all other Chester Lifestyle blog posts – have a look at them all HERE.