Money Mule Scam

Money Mule Scam

Dirty work for money launderers

WHAT IS A MONEY MULE SCAM?

In this scam you unwittingly become part of a money laundering syndicate. Scammers pose as lonely individuals seeking companionship and love online. They befriend you on social media or dating sites, and after gaining your trust, ask you to open a new bank account or use your existing bank account to receive and transfer money on their behalf. You will be asked to transfer the deposited cash to another person or company, usually based overseas. You may be promised a small token for helping this online friend.

Alternatively, scammers post job advertisements on job sites and social media platforms. You are promised a commission for receiving and transferring money.

Look out for these scam signs

How to stay safe

Never allow others to use your bank account to conduct transactions. You may be committing a crime by laundering money for criminals.

Money laundering is a serious offence. Offenders may be fined up to $500,000 and imprisoned for 10 years.

You are responsible for all the transactions carried out on your account.
Never disclose personal particulars, banking and credit card details and OTPs.
If you suspect that you may have received money under suspicious circumstances, report it to the bank and the Police immediately. Do not do anything with money that has been deposited in your account.

Money Mule Scam: Real Stories

07 Apr 2022 | Money Mule Scam

I fell prey to an investment scam

I knew Justin (jwc) from facebook and he portrayed a luxurious life with strong forex trading. Taking a leap of faith, I opened a trading account and made money at first. He then asked me to pool the…...

25 Mar 2022 | Money Mule Scam

My bank account was blocked for helping an online friend

I met him.on a dating app. He mentioned he is a marine engineer and have 2 yrs contract with keppel and will be coming out in oct 21. Later, he mentioned he needs to go malaysia for some repair works…...

18 Apr 2021 | Money Mule Scam

My bank account got frozen when I took a job that required me to transfer money to other bank accounts

First connect them through fb (her name is Janet yeoh), who claimed that her company needed an account admin. They asked me to provide my bank account details  in order to credit my salary to me.  Next,…...

GET SCAM-RELATED ADVICE: CALL 1800-722-6688 (Mon-Fri 9am-5pm, excl. PH)
GET SCAM-RELATED ADVICE:
CALL 1800-722-6688
(Mon-Fri 9am-5pm, excl. PH)
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