Accidental money laundering is real? Money mules explained. | Tech Tip Tuesday
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- เผยแพร่เมื่อ 2 ก.ค. 2024
- It’s #TechTipTuesday! Today we’re going to talk about how easy it is to get tangled in a money laundering scheme by becoming a money mule- whether you know it or not.
0:00 Intro
0:49 What is money laundering?
1:05 What is a money mule?
1:34 The 3 Types of Money Mules
3:09 How are money mules recruited?
5:23 What are the consequences of being a money mule?
6:02 What should you do if you think you’re a money mule?
6:40 Outro
VIDEOS MENTIONED
🎞️ Fall Out of Love with Online Romance Scams | Tech Tip Tuesday- • Fall Out of Love with ...
RESOURCES
📰 Corporate Finance Institute, “Money Laundering”- corporatefinanceinstitute.com...
📰 Bankrate, “Money laundering”- www.bankrate.com/glossary/m/m...
📰 US Federal Bureau of Investigation (FBI), “Money Mules” - www.fbi.gov/scams-and-safety/...
📰 Barclays, “Under-21s recruited as ‘money mules’ more than triple, Barclays warns university students”- home.barclays/news/press-rele...
📰 US Department of Justice (DOJ), “Money Mule Initiative”- www.justice.gov/civil/consume...
📰 Federal Trade Commission (FTC), “Prize Scams”- www.consumer.ftc.gov/articles...
📰 FBI, “Internet Crime Complain Center IC3”- www.ic3.gov
📰 FBI, “Field Offices”- www.fbi.gov/contact-us/field-offices
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Music - Mikel (smarturl.it/zeldachill)
I was almost a money mule. Thankfully my financial advisor let me know the “job” I wanted was a scam. I was absolutely devastated but thankfully the only huge thing that came from it was me getting identity theft protection and jumping into a rabbit hole of videos to become more informed about how scammers can screw people over. A scary experience but thankfully I haven’t lost any money and the combination of identity protection, my bank informing me of any suspicious transactions, and me checking my account every day have done their job of making me feel more secure if shit does hit the fan. Overall I consider myself incredibly lucky since the money was never deposited into my account and the only thing they got from me was my bank info and SSN. Really scary stuff for a scammer to have but it makes me feel better knowing that if they try any shady shit it probably won’t go on for too long since I’ve set up protection to protect myself.
Should I be fine if I inform my bank about it? I haven’t received money yet but it can happen anytime (the scammer knows my bank informations). What should I do?
I was a money mule and didn’t know that. People started grabbing back their money, claiming scam/fraud! Draining My own money!!
If anyone finds themself in money mule scam, it behooves you to come forward.
My husband fell for this. Thanks for the information. We will get busy and get things taken care of.
Hello everyone! Thank you for your awesome questions and comments. I'm excited that this video has helped educate people and help them identify red flags in their own situations.
For legal reasons, I can't give advice on how to defend oneself in court when falling prey to a money mule scam. Additionally, laws vary widely from state to state and country to country, so much of what I could say would merely be speculation. I highly recommend checking out the resources in the description and reaching out to your local law enforcement or financial institution. -Dani
If anyone in an organization finds that there is money laundering going on, they need to document everything, stop all ties with the crooks, and report everything to the government, and or victim.
You should not just keep on laundering money because it’s easy money and then cook the books.
Be honest, forthright, sincere, document everything, and be honest about it.
Don’t be afraid and hide
Look at everything in your inventory
My guess is, with the green brothers, the other bank account is where everything is bought.
All the stuff.
Thank you for the Great video
This is new info that makes sense.
I wish I saw this video 2 years ago.
me too and all I was looking for was love!!
Hi I was a money mule!!! It sucked he took 3,500 dollars from me which I know I'll never ever get back but are there meetings I can go to make sure this never happens to me again? I'm in therapy but I was wondering if I could do more for myself!!
This info sound legit.
This video is off the hook
What if the individual who once found out something wrong they called and closed their account never sent money or transferred money or spent it . Do they have to pay money back if they got multiple return item fee deposits but then were refunded ?
Hi Rob! If I'm following correctly, it sounds like someone received money with the expectation to keep a portion and transfer the rest (acting as a money mule). However, they closed their account and never forwarded the money. Bottom line, the best course of action is for them to contact the financial institution and local law enforcement about the attempted money mule situation. Those institutions should then assist further.
When I was a kid, I almost became a money mule unknowingly. Someone told me I “inherited” money and they were going to send me a check and that I needed to send the money through wire transfer to the account they provided.
I began the process, but then when I realized what was happening my family and I contacted the FBI and were given instruction on what to do next.
Even after I let the bank and the FBI know, I was still flagged at that bank and was not allowed to open a bank account with them (even to this day in my 30s) and I owed them the $100 the bank allowed me to get when I initially tried to cash the check.
@@briannamartinezwellness Hi Brianna! I'm really happy to hear that you and your family were able to catch everything before the money was sent. However, that's awful that the bank was not willing to work with you, especially after having worked closely with the FBI. I hope that it has not affected your ability to get an account elsewhere! -Dani
Can a person's identity be stolen and used to make them a money mule or their a way to pass money through their account without them knowing it was there?
@@ravenclawavenger2170 I certainly think that could be a possibility. Criminals are pretty creative, unfortunately. -Dani
YES, I WAS TOLD THAT I WON MILLION DOLLARS BUT FIRST THEY WANTED "GIFT CARDS". . AND WHEN I TOLD THEM THAT THEY WERE " MONEY MULES" .THEY MOVED ON BECAUSE THEY COULDNT GET A "VICTIM" FOR THEIR CASH.
I know someone who asked by the scammer to use cash app to move money not their own bank
I unfortunately was scammed in a romance money mule. Im so devastated. Just trying to fix everything. I feel how I could be so nieve and dumb.
Care to explain the story ?
I think the reason why more people aren't aware that this is such a huge problem is because it's hard to openly talk about it. Why would people willingly discuss something that made them feel so naive and dumb? Essentially, I bring up all of that to say that it's not your fault that this happened to you. ❤️ How could you have known? Cybercriminals make it their life's work to swindle people in the most convincing ways.
My hope is that we can educate as many people as we can to prevent it going forward. ❤️ -Dani
don't be I fell victim also!!!
I think that could be my story. Someone I trusted was using my account and a huge some of money and he was given a percentage and my bank froze my account because they found it suspicious
@@nomsashongwe6332 same bro what happened
Thank you so much!! I had a hunch this guy was a scam when he said that I have to be his and his alone and I would be making an allowance 🧐 very suspicious.. I'ma go to my local FBI and catch this dude.
Funny a “sugar mama” reached out to me
I never thought that Ghana from Africa could be twisted
If you were in a bad financial situation and opened a new account to avoid the negative balances wouldn’t that fall into the same category?
If I'm understanding correctly, you are asking if abandoning a bank account with a negative balance and opening a new account is similar to the part of the video discussing how witting money mules open accounts at multiple banks to avoid suspicion?
Ultimately, both are suspicious financial behavior from the financial institution's perspective. I don't know if I, personally, would consider the former "money laundering" activity in the traditional sense because there is no inherent tie to criminal activity. However, overspending on a bank account (causing it to go negative) is essentially a debt and will be treated as such by the financial institution. From there, the situation will vary based on the financial institution and individual situation.
I hope this was somewhat helpful! -Dani
Ily
I got several emails also from the scammers, he asked me to cooperate to resend the money 50:50, but i never give any response about this things.. I think thats money laundering one..
Sounds sketchy to me! I'm glad you didn't respond. -Dani
It was the sugar daddy scam but i hadn’t heard about it yet. But im clueless. So everything he told me to get, i couldn’t cuz im clueless. So i really piss them off. So he came back and wanted me to use my cashapp and prisons familys would sent me money , i would buy bitcoin , then this man will send me an address and i send to him and he gets the prisoners food. Hope that made sense. Sounds like a mule
Yes, sounds like a money mule to me too. -Dani
@@FortCommunityCU even if the money comes from the prisoners and the main man gets them the items they need
So if it is then who would come to me and say that migh be what I’m doing and what kind of trouble would I get
Unfortunately, I'm not exactly sure. If I'm understanding correctly, you are being sent money to purchase bitcoin. Then you send that bitcoin to the main person. The main person purchases food for prisoners and potentially pockets the rest, if any. The biggest red flag for me in the entire situation is the use of bitcoin which is often used to "anonymously" move money (it's not always as anonymous as people think though).
Ultimately, money laundering is about furthering money gained through illegal means from its source to "clean" it. If it turns out that this situation has criminal origins, you could be tied back to that through your involvement in a criminal investigation. There are several points at which law enforcement could get tipped off given that several people, apps, and institutions are involved. -Dani
The family send me money to my cash app. When I do the bitcoin it goes to the prisoner to purchase food or items. Only once so far have I sent to the main man. I asked if this was legal. He of course he said yes. It’s for the prisoners to get items for themselves. Thank you for answering my questions
so how about..a bf supporting gf...does it show past relationship also supporting
Thank you for the information. Time to make. facebook
But what if they have my social security number ?
I just scammed a scammer 🤣😂🤣😂🤣😂🤣😂
How
Did you actually or did the bank catch it and make you pay it back and how much?
I got scam from a bitcoin guy he suppose to be a account manager but he a con artist
You could recover this Bitcoin if you still have the Bitcoin address ,do you still have it ?
Just for my update. I deleted , Blocked & Reported. Thank You
Is It also a Money Mule, If a person sending that money in cash
Yes! Money mule activity can occur with physical cash as well. -Dani
@@FortCommunityCU but how will they benefit from sending a cash amount
@@himalyanboy4744 Usually the money mule is told to keep a portion of the cash and then deliver the rest elsewhere. Funneling the cash through the money mule gets the cash further from its original source, which is often rooted in criminal activity. You might be familiar with the concept of "cleaning money" through money laundering. This would be an example of that. -Dani
@@FortCommunityCU what If don't deliver their cash to the told destination and block the scammer and keep all the money
@@himalyanboy4744 I suggest contacting your local law enforcement for advice on what to do in your specific situation.
Who's going to report it if they can go to jail
This girl is so cute i didnt know i was interested in money laundering until now
I think watch your spouse, too.
That is why the large money owner and the workers are left and right hand for money laundering and human sex trafficing that the worker not knowing unless they let you know
I accept the money!! What should I do!! I’m scared!!! Should I go to police ??
If you feel safe doing so, going to the police is a good first step! You could also contact your financial institution. They would be likely to rope in law enforcement at some point as well. -Dani
What did you end up doing? I'm in a similar situation.
What happens if you keep it?
Would you be able to keep the money?
If it’s a sugar mama just ask them to FaceTime or video call you
Be careful! There are some really convincing video filters that can make you look like a completely different person- even on a live FaceTime call. Here's a link to a BBC article detailing a vlogger who successfully used video filters to deceive their audience (until it glitched one day). www.bbc.com/news/blogs-trending-49151042
Sending money to help people can be biblical
Yes, but there are many scammers who take advantage of that good will as well. A person's safest bet is to send money directly to a reputable charitable organization. Use Charity Navigator (www.charitynavigator.org/) to vet charities to ensure you don't get scammed! If the person who needs money is an individual, precautions should be taken to ensure 1) the person is legitimate, and 2) your personal information won't be stolen. -Dani
If I ever meet Emily Graslie, she will go to prison
Please don't do this😢
you talk/move funny/weird
Hey i got a text from mark zuckerburg giving them money after giving him 500 for delivery of the check. Is this a joke?
I'm not sure if it's a joke, but I definitely don't think it's real. Best to delete! -Dani
@@FortCommunityCU yea i pissed zuckerberg when i called him Fake
Boy, my scam alarm is sounding off.