Money mules article

Uxb

Article in the D.Telegraph a few days ago
https://www.telegraph.co.uk/personal-banking/current-accounts/fraudsters-target-cash-strapped-students-use-money-mules/

The most interesting bit is the statistic of 32,000 accounts that were used for dubious reasons last year.
That's a lot of accounts being misused!
I have heard of foreign students 'selling' their accounts when they leave the UK to the scammers as they don't give a monkeys about anyone else and will never return to the UK to face any sanction or are likely to care about being put on a CIFAS block list.

alanq

Money Mules was a topic on BBC Radio 4's Money Box. on Saturday.

http://www.bbc.co.uk/programmes/b09zmvcp

worried_jim

I used to look for, find and close these accounts. Sometimes I would simply look for a certain postcode, nationality of the account opener and off we we went.

Many would have a tell tale "test" transaction and with in 48 hours the real deal would be attempted.

I was a busy boy!

I heard the moneybox piece and had zero sympathy for "Holly". Zero.

eskbanker

....and the wholly inappropriate misuse of the term survives on this site at https://www.moneysavingexpert.com/news/banking/2018/01/how-to-play-the-bank-bribe-bonanza-game-and-earn-1000:

Consider setting up a second account as a switching mule. You could just keep switching your main account, yet that can be annoying. A mule account is a second account you set up just so you can switch it. Just open it without the switching service, so it doesn't close down your existing account.

For the first mule account, best to avoid any accounts that may offer you free switching cash, so you don't disqualify yourself from using them. Then just open your bonus account by switching this mule account.

Perhaps the man himself should look at getting his own house in order before embarking on his (justifiable) crusade against Facebook scammers....