Latest Money Mule Convictions

Latest Money Mule Convictions.

In a recent operation that ran from mid-September to the end of November 2022 Law enforcement from 25 countries joined forces to crack down on enablers of money laundering. The operation was focused on money mules and their recruiters. A ‘money mule’ is a person who transfers stolen money on behalf of others, usually through their bank account. People are approached by scammers and offered cash to receive money into their bank account and transfer it to another account. Acting as a money mule is a criminal offence and if convicted will result in a prison sentence. It doesn’t matter how small the amount is, a criminal conviction for money laundering is a black mark which will follow that person around all their life.

During the crack down operation more than 8,700 money mules were identified, 2,469 people were arrested worldwide and 17.5m Euros was intercepted.

There is a more detailed report on the money mule operation on this LINK.

We have several cases which involve money mules transferring money to fraudsters. In one case we investigated more than 50 money mules were involved in just that one scam. In another case which we are currently pursuing with a victim of fraud, and which will be the subject of another article in the next few weeks, £1.3m was taken from investors and passed through the money mule’s account. We have traced the perpetrator to an address in Spain. He used his profits from the illegal activity to buy flash cars, pay the family’s living expenses, pay for his daughter to attend a private school in Spain and to finance his wife’s equestrian activities.

It is also worth reading this LINK to a Europol public awareness and prevention on money mules. Money mules are not just used in investment frauds. The money paid to money mules is more often linked to a number of more common criminal activities like phishing, malware attacks, online auction fraud, e-commerce fraud, romance scams, holiday fraud (booking fraud) and many others.

Latest Money Mule Convictions.