Australian students are mules
A lot of fraudulent activity has a very weak link; a bank account that accumulates the illicit proceeds. Banks nowadays are quite strict when opening an account and double check your address and identity. The ‘real’ criminals will not open a bank account in their own names to use for fraudulent activity. There is even an easier and less risky alternative than trying to open an account with a fake identity. We see a lot of young people, like students, being drawn into fraudulent activity. “If I can use your bank account to receive some money from a friend I will let you have 5%”. “I can’t open a bank account because I technically am bankrupt; if you help me receive this money and cash it for me I will give you $250″. Sometimes, criminals threaten not so strong individuals to force them into cooperation using their bank accounts. Most international police forces know this problem and target it specifically with their fraud and ‘young delinquent’ units.
Banks and the Australian Federal Police (AFP) have targeted university students this week to warn them about money mule scams when seeking holiday employment.
The Australian Bankers’ Association (ABA) and the AFP have prepared a fact sheet, ‘Warning to students – don’t get caught by mule scams’. It warns students of the scams which trap them into laundering money for criminals by becoming a money mule.
A money mule is someone who allows their bank account to be used to receive stolen funds which are transferred to a designated account (domestic or offshore) using a money-remitting or wire service, minus a commission payment.
The mule is usually approached online via email, instant message or criminals may advertise on legitimate employment websites and publications.
AFP Acting National Manager High Tech Crime Operations, Karl Kent, said students are vulnerable at this time of the year as they are seeking employment during the holiday period.
Commander Kent said: “You would be very suspicious if someone you didn’t know asked you to carry a package or money overseas. Similarly, you should be very suspicious about someone asking you to transfer money in and out of your bank account to other accounts.”
“These scams involve you in a criminal enterprise and there are serious penalties under Australian and international laws for laundering money.”
“The prospect of making easy money may appear attractive. However, any ‘commission’ payments will be recovered as they are the proceeds of crime and the person – the money mule – could become the subject of a police investigation that could lead to a maximum penalty of 20 years’ imprisonment.”
“If you are in Australia on a student visa, having a criminal conviction recorded against you may mean that you are not able to complete your studies at an Australian institution.”
Usually, criminals send out millions of fraudulent job offer emails to random email addresses in the hope of involving unsuspecting, innocent persons in their criminal activity. You should ignore such emails and immediately delete them.
Sometimes the criminals even use legitimate employment websites to post their scam job ads. Once you respond to the advertisement, the criminal will ask that money be moved through your bank account. Don’t be fooled: when you transfer money in this way the law views you as being a criminal too.
