Money Mules: An Investigative View

Dunham, Ken

doi:10.1201/1086.1065898x/45926.15.1.20060301/92679.2

Cited by 4 publications

(9 citation statements)

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“…In romance scams, the victims of a "fake paramour profile" will succumb to any request made by the scammer. According to Dunham (2006), the accepted money mules were paid based on the type of account they held; a personal account would earn US$4,000, whereas commercial account holders would bring back US $8,000. This is a red flag as commercial account stands a higher chance of circumventing money mule detection by the bank.…”

Section: Money Mule Recruitmentmentioning

confidence: 99%

A systematic literature review of money mule: its roles, recruitment and awareness

Rani

Nazri

Zolkaflil

2023

JFC

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Purpose This paper aims to provide a systematic literature review (SLR) on contemporary cardinal money mule issues. Design/methodology/approach This paper reviews the most common money mule themes in perpetrating financial crime activities, especially its roles, recruitment and awareness. A systematic review protocol called preferred reporting items for systematic review and meta-analysis protocols is adopted for this study. Findings Money mules are used by organized criminal groups (OCG) or fraudster to launder illicit funds from outrageous criminal activities. They allow their accounts to be used for money laundering by OCG. The attacker, OCG or fraudsters would layer the stolen funds using money mule accounts. These money mules are recruited using various approaches, oftentimes deceived by opulent lifestyles to captivate the interest of potential money mules. Originality/value This paper presents money mule awareness needed by accountant, bank employees and the society. It is an unprecedented SLR on money mule. This paper will be beneficial for future money mule researchers, enforcement agencies and practitioners in banking industry.

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Section: Money Mule Recruitmentmentioning

confidence: 99%

A systematic literature review of money mule: its roles, recruitment and awareness

Rani

Nazri

Zolkaflil

2023

JFC

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“…According to Dunham (2006), money mules operate under the assumption that they were performing a legitimate job. As seen in the Australian case, adolescents in The Netherlands have also been primary targets for money mule recruitment by (cyber) criminal networks (NVB, 2011).…”

Section: Modus Operandi In Execution Of Money Launderingmentioning

confidence: 99%

“…On January 2005, the first reported and apprehended money mule case took place in Australia (Dunham, 2006, p. 1). A total of 61 money mules were arrested.…”

Section: Case Studies – Use Of Money Mules In Financial Crimesmentioning

confidence: 99%

“…Their job description entailed wiring money transferred into their account to an account located overseas. It is estimated that mules made anywhere from $200 to $500 a day for transferring up to $100,000 per day (Dunham, 2006, p. 3). According to Dunham (2006), the money originated from phishing scams conducted by a phishing gang.…”

Section: Case Studies – Use Of Money Mules In Financial Crimesmentioning

confidence: 99%

“…It is estimated that mules made anywhere from $200 to $500 a day for transferring up to $100,000 per day (Dunham, 2006, p. 3). According to Dunham (2006), the money originated from phishing scams conducted by a phishing gang. The gang would use fake e-mail alerts and Trojan horses to lure victims.…”

Section: Case Studies – Use Of Money Mules In Financial Crimesmentioning

confidence: 99%

See 2 more Smart Citations

Role of money mules in money laundering and financial crimes a discussion through case studies

Raza¹,

Rubab³

2020

JFC

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Purpose This paper aims to explain the role of money mules in money laundering and financial crimes through the discussion of case studies. The authors also explain the red flags of money mules and provide advice. Design/methodology/approach The authors use a case analysis approach. The paper mainly discusses ten cases about the use of money mules in financial crimes. Findings It has been found that money mules help criminal syndicates to remain anonymous while moving funds around the world. The unemployment, internet usage involvement of teenagers and youth in money laundering-related crime around the world are on a rising trend, and criminals are constantly looking for their victims by exploiting their mental and financial condition. Originality/value This paper provides case studies to understand the role of money mules in money laundering and financial crime.

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Understanding cybercrime involvement: a quasi-experiment on engagement with money mule recruitment ads on Instagram

2022

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Money Mules: An Investigative View

Cited by 4 publications

References 0 publications

A systematic literature review of money mule: its roles, recruitment and awareness

A systematic literature review of money mule: its roles, recruitment and awareness

Role of money mules in money laundering and financial crimes a discussion through case studies

Understanding cybercrime involvement: a quasi-experiment on engagement with money mule recruitment ads on Instagram

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