Earnings for Money Mule in the United Kingdom

in Business Risk

Criminals in the United Kingdom target students and other job seekers to launder money in their personal bank accounts.

The criminals disguise the fraud as jobs with titles such as “money transfer agents: or “payment processing agents,”  and police refer to the students as money mules. The criminals would deposit money into the students account, who would then move the cash to an offshore bank account in order to wash the money.

A typical share of payment for the money mule is 8 percent of the cash handled.

(Additional profits from under the table jobs.)

Source:  Simon Gompertz, “Students warned not to get involved in money laundering,” BBC News, February 25, 2013.

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