What Is A Money Mule? | Fraud And Security Centre

A money mule is a name for someone tricked into helping to move the proceeds of serious crime.

What happens in money mule scams?

Scammers ask someone to accept a payment or deposit into their own bank account. They then ask them to move this money – either by:

Transferring it into someone else’s account
Withdrawing cash and handing it over to the scammers

They may even ask to keep the victim's debit card so they can access these funds directly.

To get people to agree to this, scammers invest time and energy in building trust with their targets. They may offer rewards, like keeping some of the money, or other items and gifts in return for the use of your bank account.

It can seem like an easy way to make money, but acting as a money mule is a criminal offence, with serious consequences.

How are customers targeted?

Scammers often prey on those who are struggling financially or likely to be in need of extra money to act as ‘money mules’.

You could be:

Approached online or on social media
Offered what appears like as a ‘job opportunity’ offering ‘quick cash’ with ‘no experience necessary’
Receive spam emails offering ‘easy money’
Fooled into believing it’s a genuine activity, with no loss or consequences

Online and social media presences can often hide the true nature of where the money is coming from – which is often serious organised crime. Scammers will use social media profiles to learn more about you. They will pretend to share your interests to gain and build your trust, before asking you to help move money.

Stop and think: would you be as willing to handle physical cash for a criminal?

The real cost of being a money mule

It might seem like a harmless way to increase your income, but people acting as money mules will usually be unaware of where the money comes from, or where it goes.

Criminals need money mules to launder the profits of their crimes. This includes fraud and scams, but also serious crimes such as terrorism, people and drug trafficking and tax crimes.

Being a money mule can get you into serious trouble.

If you’re caught, you risk:

Up to 14 years in prison
Being left with debt to repay
Having your bank accounts closed
Difficulty being accepted for other bank or credit accounts
Being dismissed from university and finding it hard to gain future employment
Problems applying for a loan, a mortgage or even a mobile phone contract

How to stay safe

If someone offers you ‘easy money’ and wants to ‘borrow’ your bank account or transfer money, stop and think before you get involved. Talk to someone you trust, and be aware of the risks.

You should:

Do your research on the ‘job opportunity’
Think, does the request to use your account make sense?

You shouldn’t:

Open an account in your name for someone else
Allow your account to be used to send and receive funds for others
Share your PINs, passwords or one-time passcodes

How to report it

If you're worried that you or someone close to you might be caught up in money muling, you can contact HSBC directly using the number on the back of your card and also report this anonymously to Crimestoppers This link will open in a new window.