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Money Mules

Learn how criminals prey on the vulnerable and make them money mules

WHAT IS A MONEY MULE SCAM?

A money mule is an individual who transfers illegally-obtained money from one source to another on behalf of someone else. Money mules facilitate money laundering and other criminal activities.

HOW DOes a money mule WORK?

The approach:

Recruit for a variety of tasks

Criminals in search of money mules are often based overseas. They typically recruit people to help them transfer illegally obtained money between different bank accounts. This money could have been stolen, or obtained via online scams and human and drug trafficking.

Money mules are often recruited online, sometimes unknowingly. They may be asked to receive and transfer illegal funds using their personal bank accounts, or move money via cashier’s checks, virtual currency, prepaid debit cards, or money transfer businesses. Criminals may also recruit mules to physically move cash across international borders by land, air, or sea.

The fraud:

HOW TO AVOID BECOMING A MONEY MULE
  • Do not act
    Refuse offers to receive or forward money or packages on someone’s behalf. Do not purchase gift cards, debit cards or virtual currency at someone else’s direction.
  • Be wary of unsolicited job offers

    Do not trust advertisements or people who contact you with promises of easy money for little effort, or who offer ‘agent’-type jobs that supposedly let you get attractive commissions if you receive and transfer funds on the company’s behalf. If you move money at the instruction of another person, you may be a money mule and found to be laundering money.

  • Report fake job offers

    Unsolicited job offers with vague job descriptions and promises of high returns tend to be scams. Do not engage with them; instead, report them to the police and the platform you found them on (e.g. the job site).

  • Protect your details

    Be wary when asked to share personal information with someone whom you have not met, or when applying for jobs that may seem too good to be true. Do not share any personal or banking information, card details or One-Time Passwords (OTPs) with anyone.

  • Keep your accounts secure

    Be responsible for all transactions carried out under your account(s); do not share your banking details or allow anyone to use your account(s) to make transactions on your behalf. You could be laundering money for criminals – a criminal offense that carries a hefty fine of up to S$500,000 and prison time of up to 10 years.

  • Report suspicious transactions

    If you notice transactions that you did not make, make a report to the bank and police immediately. If money is deposited in your account and you do not know its source, do not use it.

WHAT TO DO IF YOU HAVE BEEN SCAMMED

Call us

If you believe you have fallen prey to such scams and/or your OCBC account details/funds may be or may have been compromised, please call our Personal Banking hotline at 6363 3333 (or +65 6363 3333 if you are overseas) and press 8 to report fraud or temporarily freeze all your accounts and cards.

Contact the Police and file a report

You can file a police report online or in person at a police station

Find out what information you will need to share if you have fallen prey to a scam.

Contact the platforms involved

Report the scammer to the e-commerce platform, social media website or classified ads website that you purchased the product from and/or where the scammer approached you.

Spread the word

Tell others you know of your experience to help educate and protect them. You can also share your stories on social media or anonymously at www.scamalert.sg.
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