Results

Federal Trade Commission

12/03/2021 | News release | Distributed by Public on 12/03/2021 23:49

Avoiding a money mule scam

Share this page

December 3, 2021
by
Bridget Small
Consumer Education Specialist, FTC

Scammers are looking for people to help them move stolen money. They visit online dating, job search, and social mediasites, create fake stories, and make up reasons to send you money, usually by check or Bitcoin. Then they tell you to send that money to someone else by using gift cards or wire transfers. But they never say the money is stolen, the stories are lies, or - if you sent the money - you might be acting as what law enforcement calls a money mule.

If you help a scammer move stolen money - even if you didn't know it was stolen - you could get into legal trouble. You'll be at financial risk, too. Ifyou deposit a scammer's check, it might clear at first. When it turns out to be a fake check,the bank will want you to repay the full amount. You may be charged fees, and your account may be overdrawn or closed. And using a scammer's money to buy gift cardsand turning over the PIN codes, or sending wire transfersis almost like sending cash. In both cases, the scammer gets the money quickly, and it's almost impossible to recover.

How can you avoid a money mule scam?

  • Don't forward money for an online romantic interest who sends you money.That's always a scam, and a way to get you to move stolen money.
  • Don't accept a job that asks you to transfer money or packages-even if they tell you to send money to a "client" or "supplier." You may be helping a scammer move stolen money or gift cards.
  • Don't accept a grant or prize award and forward some of the money. That's another way to get you to move stolen money.

If you think you might be involved inthis scam, stop the payment transaction and stop communicating with the person. Tell your bank, the wire transfer service, or any gift cardcompanies right away. If a scammer has your bank account information, close your account immediately. Then tell the FTC at ReportFraud.ftc.gov.

Blog Topics:
Money & Credit
Scam Tags: Fake Check Scams
  • Add new comment

Comments

mblack| December 3, 2021
|
  • reply

Thankful for all that you do in informing me of scammers and keeping me updated

Pokey| December 3, 2021
|
  • reply

many of these scammers use their PHONE TO HARRASS ppl into their scam. THey are crafty with words and cunning. If somehow you could stop the scammer calls, muling money would be less of a problem imo

Leave a Comment

Read Our Privacy Act Statement

It is your choice whether to submit a comment. If you do, you must create a user name, or we will not post your comment. The Federal Trade Commission Act authorizes this information collection for purposes of managing online comments. Comments and user names are part of the Federal Trade Commission's (FTC) public records system, and user names also are part of the FTC's computer user records system. We may routinely use these records as described in the FTC's Privacy Act system notices. For more information on how the FTC handles information that we collect, please read our privacy policy.

Comment Policy

This is a moderated blog; we review all comments before they are posted. We expect participants to treat each other and the bloggers with respect. We will not post comments that do not comply with our commenting policy. We may edit comments to remove links to commercial websites or personal information before posting them.

We won't post:

  • spam or off-topic comments
  • comments that contain vulgar language, personal attacks, or offensive terms that target specific groups
  • sales pitches or promotions
  • comments that contain clearly misleading or false information
  • comments that contain personal information, like home addresses

Comments submitted to this blog become part of the public domain. To protect your privacy and the privacy of others, please do not include personal information. Also, do not use this blog to report fraud; instead, file a complaint.