money mule scams

You are someone who likes to help others out; that is what makes you a caring person. So when someone lists a job posting or connects online to start a relationship, then asks you to transfer money into your bank account, and then requests you transfer the funds to another bank account for a little cash in return, where is the harm? This is illegal because you are assisting a likely criminal as a money mule. Money Mule Scams are dangerous because you could get in trouble for unknowingly participating in criminal activity, and you could lose your own money. The best way to combat these scams is to learn about them and to ignore all of these inquiries. How do money mule scams work? The money has been funneled through phishing scams or business email compromise schemes, and you are being asked to move money taken from victims of these schemes. The staff at Provident State Bank is here to help you learn more about how to protect yourself from Money Mule Scams. Check out our tips below and contact our professionals for more information today!

Signs of Money Mule Scams

- Receiving an unsolicited email or social media inquiry about earning easy money.

- You are asked to start a business from your home and open a bank account in your name or the name of your new business for frequent money transfers. This is a money mule work from home scam.

- You get asked to transfer money from your account to another account with the promise of receiving a portion of the transfer.

- Your online companion asks you to receive funds, and then forward the money to an individual you do not know.

money mule scams

Protecting Yourself

- Do not accept job offers from anyone asking you to open a bank account to transfer money to another account.

- Never provide your financial information to someone you do not trust.

- Being asked to start a company and open a new bank account is a red flag.

- Be wary of online relationships where the person wants you to forward money.

- Ask to see a business license from the people seeking your employment.

If you receive these solicitations, do not respond to them or click on any links they provide. Instead, immediately call your local police department. Provident State Bank is here to help protect you against Money Mule Scams, so contact us today or come in for a visit!

protecting against fraud