A warning has been issued urging people not to fall into the trap of becoming a ‘money mule’.
Cyber Security Centre Isle of Man (CSC) says criminals are now targeting victims in order to use their bank accounts to launder criminal cash.
A number of people have appeared at the Court of General Gaol Delivery in recent months after being caught laundering money for criminal gangs, usually involving drugs.
Some of those involved have been put behind bars while others have narrowly avoided prison by receiving suspended sentences.
But the CSC believes some of those who end up committing such crime are hoodwinked or manipulated into letting their bank accounts be used.
A CSC spokesman said: ‘While cybercrime is constantly changing, one tactic remains alarmingly effective: exploiting everyday individuals to launder stolen money.
‘These individuals are known as money mules, and you could become one without even realising it.’
A money mule is someone who transfers or moves criminal cash on behalf of others.
The CSC spokesman said: ‘While some are complicit, many are unwitting participants, tricked into believing they’re helping a friend, applying for a legitimate job, or doing a favour for someone they met online.’
Cybercriminals recruit mules in a number of ways including offering fake jobs with promises of easy money for ‘processing payments’ or ‘financial agent’ roles.
People can also be caught out as part of romance scams where emotional connections are built online and then people are asked for help move money.
Phishing emails or messages can also be used impersonating banks, government agencies, or charities to gain trust.
People can even by duped by friends or family who may themselves be a victim or acting under pressure. You might be asked to ‘do a favour’ by receiving or forwarding money, without knowing the full story.
Anyone involved in being a money mule can face criminal charges for money laundering, have their bank accounts frozen or lose access to other financial services.
The CSC says there are red flags to watch out for such as being asked to use your personal bank account to receive or transfer money from someone you’ve never met in person, receiving a job offer lacking details or require no experience or being pressured to act quickly or keep things secret.
The CSC advises people should never share bank details with strangers or new online acquaintances, verify job offers through official company websites or trusted sources and report suspicious activity to their bank
The CSC spokesman said: ‘Cybercriminals rely on trust, urgency, and deception to turn innocent people into accomplices. By staying informed and cautious, you can protect yourself becoming part of a criminal network.’
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