Following the Money: Preventing Money Mules & Laundering

Though awareness of drug mules may be more common, they are not the only type of (human) mules exploited by crime syndicates. Whereas drug mules are individuals that illegally transport drugs across borders on behalf of—often coerced—others, money mules do the same but with money, typically receiving a commission.

Money mules pose a threat to businesses—especially banks and FIs—particularly when it comes to ensuring regulatory AML compliance. According to an Aite-Novarica report on money mules, “The adoption of faster payments, the global increase in identity-related fraud, and a relative lack of consistency within and across markets in how FIs monitor, remediate, and proactively interdict mule activity are creating ideal conditions for increased mule activity.”

Download the eBook – Following the Money: Preventing Money Mules & Laundering to learn about the following:

•What is AML?

•Types of Money Mule Scams

•Types of Money Mules

•Detecting Money Mules

Questions?

Let's Talk Support