Money Mules
- Major banks have recently stopped or slowed down the process of opening sole proprietorship and individual current accounts for firms less than a year old due to concerns about money laundering and digital fraud.
- Money mules are individuals who transfer or move illegally acquired funds on behalf of others.
- Criminals recruit money mules to launder money from online scams, frauds, human trafficking, and drug trafficking, creating layers of separation between victims and perpetrators.
- Money mules handle funds through various methods such as bank accounts, cashier’s checks, virtual currency, prepaid debit cards, and money service ....
