Money transfer into and out of bank account for a commission could get you in trouble!
7th February 2011: Migrant students and workers forget all about making ‘easy money’ by transferring money into and out of your bank account. Chances are you are being used as a `money mule’ by the outlaws to launder stolen money; and may find yourself behind bars for 10 years.
Even the UK Border Agency has issued a warning to the migrant students and workers to be vigilant and guarded, if offered the opportunity to make ‘easy money’.
The UKBA has asserted: `Many migrant students and workers are being targeted as money mules to break the law by laundering stolen money.
`A criminal will pretend to offer them a genuine opportunity, which involves receiving money into their bank account, and then transferring it to another account while keeping part of it as commission. But the money being transferred is stolen, and the transfer of it between accounts, known as money laundering, is illegal.
`People recruited by criminals to help transfer stolen money are known as money mules or money transfer agents. If you become involved in this activity, you can be sentenced to up to 10 years in prison’.
The UKBA adds: `You can identify a money mule fraud and take steps to protect yourself by following simple advice: Be very cautious of unsolicited offers or opportunities to make easy money.
`If a company makes you a job offer, check that their contact details — address, phone number, email address and website — are correct, and find out whether they are registered in the UK.
`Be especially wary of job offers from people or companies overseas, as it will be harder for you to find out whether they are legitimate.
`Be suspicious of job advertisements that are written in poor English, with grammatical and spelling mistakes. Never give your bank account details to anyone unless you know and trust them’.