AML & Compliance

What is money mule?

An individual who transfers illegally obtained money on behalf of criminals, often through their personal bank account. Money mules may be recruited unknowingly through fake job offers or romance scams, or may participate willingly in exchange for a commission. Mule accounts are critical infrastructure for laundering the proceeds of fraud, and detecting them is a key focus of AML transaction monitoring.

How it works

Example: A college student responds to an online job posting for a ‘payment processing agent.’ They receive wire transfers from fraud victims into their personal account and forward 90% to an overseas account, keeping 10% as their ‘commission.’