18-24 March 2024
Money Mules
What is a money mule?
A money mule is the name given to a person who allows their bank account to be used to receive illegally obtained money. Once credited to the money mule’s account, the money is then transferred out to other accounts, very often in different countries.
This is money laundering, which is a criminal activity.
The FSPO is aware of an increase in the number of people who are being charged, convicted, and imprisoned, for allowing their accounts to be used by criminals who want to lodge and then remove money, that has been stolen from others.
These crimes are not a matter for the FSPO to investigate, as they are a matter for An Garda Síochána, but the FSPO often receives complaints from people who have had their money stolen and are unhappy with the outcome of their request to their bank or financial service provider, to trace where their money has gone.
As part of Global Money Week, we want you to know what a money mule is, and how to avoid being drawn into this criminal activity.
It is reported that young people, more so than other age groups, get tricked into these arrangements, mistakenly believing that there is no harm in letting another person use their account
- Would you be tempted?
- Do you know the consequences?
