APP’s Releases Paper, “7 Things to Know About Money Mules”

Posted By: James Filomena APP Dispatch,

The Association of Payment Professionals’ Fraud SIG (Strategic Interest Group) has published a new paper in our “7 Things to Know About” series. This paper tackles the rise in the “Money Mules” fraud trends and is available to all APP members.

Money mules are a critical cog in financial fraud. Money mules are individuals engaged in the transfer of money acquired through fraudulent means. While some are complicit, understanding that their actions abet criminal activities, others are unwitting participants, misled into believing they are involved in legitimate financial transactions. Regardless of their awareness, the role they play in moving illicit funds is a linchpin in various fraud schemes, with potential legal repercussions ranging from criminal charges to financial penalties. Click to access the whole paper…