Money Mule Scam
A Money Mule Scam has been reported to the East Georgia State College Police Department. The scam involves the transfer of illegally acquired money on behalf of someone else.
See the article on WSAV by clicking here.
Criminals often recruit college students to launder money gained through online scams or fraud. Using the promise of receiving easy money or a percentage of the funds, scammers recruit Money Mules to move currency in a variety of ways. This may include bank accounts, cashier’s checks, virtual currency, prepaid debit cards or money service business accounts.
First, the scammer contacts someone and using a variety of methods, gains the victim's trust, then convinces that person to open a new bank account or use an existing account. The scammer will send money directly to the account or send the victim a check for deposit. The scammer will then provide specific details on how and where to transfer the money out of the account to a third party in the form of cash, gift card, or converted to virtual currency such as Bitcoin. The scammer allows the victim to keep some of the money as compensation for their participation.
Warning Signs:
-
- Unsolicited emails or contacts on social media promising "easy" money.
- Communications from a prospective "employer" through a web-based internet service, such as Gmail, Yahoo, Hotmail, or "throw away" email services.
- Requests to open a personal bank account to receive and transfer money.
- Offers to keep a portion of the funds transferred.
- Work-at-home job offers that are limited to moving money.
- An online contact asks you to receive and forward funds to unknown individuals.
Never agree to:
-
- A work-at-home offer that asks you to transfer money.
- Open a bank account or move money at someone else's request.
- Give someone access to your bank account or debit card.
- Allow money from people you don't know to be deposited into your account.
- Accept a job offer that promises easy money and involves sending or receiving money or packages.
- Agree to receive or forward packages, or to purchase gift cards or virtual currency at someone's direction.
| If you think you might be involved in a scam, immediately stop transferring money,
notify your financial institution, and report it to local law enforcement. If money
was wired or a gift card was used, contact the wire transfer service company or servicer
of the gift card and attempt to cancel the transaction. Call and report the potential scam to law enforcement at 478-289-2090. |
