Money mule scam

[Y3shot]

I was browsing the Internet to learn about the latest types of scams. The reason for this research is to understand more about scams because we fall victim to scammers due to ignorance and a lack of detailed knowledge about them. As I was going through my findings, I discovered a scam called the Money Mule scam.

The Money Mule scam is a type of scam in which scammers recruit middlemen to receive stollen funds via cryptocurrency or bank account. These middlemen are placed on a payroll or receive a percentage of the funds at the end of the deal.

The reason for this is for the scammer to avoid money laundering charges, for which these middlemen can be held responsible. I came to think about it, and this kind of scam can occur not only online but also within our environment. It is even possible for someone you are familiar with to lure you into such a scam without your knowing it is a scam, all in the name of helping in receiving money.

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

[Promocodeudo]

I was browsing the Internet to learn about the latest types of scams. The reason for this research is to understand more about scams because we fall victim to scammers due to ignorance and a lack of detailed knowledge about them. As I was going through my findings, I discovered a scam called the Money Mule scam.

The Money Mule scam is a type of scam in which scammers recruit middlemen to receive stollen funds via cryptocurrency or bank account. These middlemen are placed on a payroll or receive a percentage of the funds at the end of the deal.

The reason for this is for the scammer to avoid money laundering charges, for which these middlemen can be held responsible. I came to think about it, and this kind of scam can occur not only online but also within our environment. It is even possible for someone you are familiar with to lure you into such a scam without your knowing it is a scam, all in the name of helping in receiving money.

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

Scammers keeps upgrading to different levels to make sure that the defraud people of their hard earned money, few months ago my friend received some amount of money in his opay account, although the money was much, he wasn't expecting money from anyone, he didn't do business with anybody that could send him such amount of money, he was thinking on what to do, he was very confused for just about a day getting to the second day he received a call from an unknown number telling him that they mistakenly transferred the exact amount he saw in his opay account, he told them that they should wait for him to check, he now use that opportunity to call me and he told me what happened after that, I advise him not to release the money lets wait for some days for us to see what will happen, they keep calling him but he refuse to pick because i told him not to for many reasons, few days days later, my friend was tracked by the police, the questioned him and at the end of it all the find out that he wasn't actually aware of what they people that sent him the money did, he money was actually refunded to the owner, my friend even has to spend extra money to bail himself for he don't know, although he was very happy that the matter didn't excalate more than that.

Now here is what actually happened, the guys that called him defrauded someone and decided to use his opay,how the got the opay account which is his phone number, he didn't know, so they called him with good tune so that he'll send them the money and who knows if he had not called me what would've become of him, may be he would've paid a double or that amount to the person the defrauded and also go in for it, moral lesson, we should be very careful, I think this information should also be shared to our relatives to understand that scam has gotten to another level so that every one will know how to play safe out there.

[BIT-BENDER]

It is all pointing at greed, this type of scam like almost every other scam won't work if you aren't greedy.
Only greedy won't make you think critically that why can they just have their own wallet or account rather than needing yours. Greedy will block out your logical reasoning and only present to you the amount of money you can possibly make out of the deal.

[Mia Chloe]

I was browsing the Internet to learn about the latest types of scams. The reason for this research is to understand more about scams because we fall victim to scammers due to ignorance and a lack of detailed knowledge about them. As I was going through my findings, I discovered a scam called the Money Mule scam.

Most times where people fall for scams it's usually because of greed sometimes they believe they can out smart the scammer not knowing that they are outrightly playing into the scheme laid out by the scammer. MLM scams and honey pot scams are the most successful set of scams with a very high number of victims. It's alarming how people just want to flip cash with zero effort within the twinkle of an eye.
It's high time people not only got smarter but also let go of greed because it's the biggest drive I can basically think of.

[Obim34]

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

The rule should be if you don't work for money do not expect free bundles. No one is willing to let go of their money without you paying a price, either you trade or work with them, traps these days are easy to set and getting of personal bank details are now easy to get, fraudsters can use these tactics to make you a mule in the chain of fraud without knowing.

Greed and lack of contentment, rewards are only gotten when you serve, it's no longer days of manner. To be a step further, everyone needs to keep very low profile in regards to what we put outside or let anyone know concerning individual life, it's risky to trust anyone no matter the closure.

[letteredhub]

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

This is a financial security tips people really have to be aware of. Don't fall victim as scapegoat for scammers for what to don't know of, only that you were trying to help a friend or colleague.

Another important dose is this. Don't agree to any stranger you meet  at the ATM point that's pleading transfer money to your account to help him/her withdraw money for her using your account  ATM card perhaps with the excuse that theirs has no network or so. Be vigilant and use your head while being sympathetic to people.

[Mehmet69]

I was browsing the Internet to learn about the latest types of scams. The reason for this research is to understand more about scams because we fall victim to scammers due to ignorance and a lack of detailed knowledge about them. As I was going through my findings, I discovered a scam called the Money Mule scam.

The Money Mule scam is a type of scam in which scammers recruit middlemen to receive stollen funds via cryptocurrency or bank account. These middlemen are placed on a payroll or receive a percentage of the funds at the end of the deal.

The reason for this is for the scammer to avoid money laundering charges, for which these middlemen can be held responsible. I came to think about it, and this kind of scam can occur not only online but also within our environment. It is even possible for someone you are familiar with to lure you into such a scam without your knowing it is a scam, all in the name of helping in receiving money.

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

You are right. We all should be aware of new scams, find articles about them from time to time. Because scammers also update themselves with time. If we can track their movements, then we will never fall victim to scams.

You said "Do not share your wallet address or bank details with anyone" I completely agree with this. Due to the current updated scam technology, we ourselves do not know how we fall victim to scammers. Therefore, we should not trust anyone and should not share our information online.

You should be extremely careful while sharing your information in special cases.

[Y3shot]

It is all pointing at greed, this type of scam like almost every other scam won't work if you aren't greedy.
Only greedy won't make you think critically that why can they just have their own wallet or account rather than needing yours. Greedy will block out your logical reasoning and only present to you the amount of money you can possibly make out of the deal.

That's true greed of making quick money that is what can make people fall scam like this.  Because when people have made up their minded to make money by all means, they easily accept all offers without considering other things and what cooul be the outcome of everything.

Most times where people fall for scams it's usually because of greed sometimes they believe they can out smart the scammer not knowing that they are outrightly playing into the scheme laid out by the scammer. MLM scams and honey pot scams are the most successful set of scams with a very high number of victims. It's alarming how people just want to flip cash with zero effort within the twinkle of an eye.
It's high time people not only got smarter but also let go of greed because it's the biggest drive I can basically think of.

Apart from lack of understanding. Greed is another factor that leads people to be victim of scam. Trying to outsmart scammers in a scam like this can even lead one to fall victim of fraud.

[HajiBagi]

It is all pointing at greed, this type of scam like almost every other scam won't work if you aren't greedy.
Only greedy won't make you think critically that why can they just have their own wallet or account rather than needing yours. Greedy will block out your logical reasoning and only present to you the amount of money you can possibly make out of the deal.

Correct my broda, if you are not greedy it will be very difficult for you to get scam quickly, and even if you get scam e mean say you no shine your eyes or God wish but for person with normal brain with two eyes say him get scam na the person cause am because nothing Dey make person fall for scammers trap if not be greedy, many of us for Naija l Dey hear profit na so our body go Dey sweet us and go do waiting we no suppose do.

No matter how smart the scammer is if you Dey appreciate the little you Dey get it will be very difficult to get scam, it will be difficult for a scammer to scam those who are not greedy and when they hear about any investment they must confirm about it before taking any step.

[WhoYouCantKill]

This is the exact reason why most CEX are against third party payments during P2P, because scammers made this method their main source of receiving stolen funds from their victims, particularly when it's an inter-country transaction, and even when these transactions are traced, the scammers identity remains anonymous, while the naive P2P buyer takes the hit for the scam. It's good you brought this to public notice, because I'm sure not everyone knows about this form of scam  and this can really help them avoid being victimized.

[SatoPrincess]

<>

You don’t have to quote the entire OP. We have talked about this many times and its discouraging to see a Hero member doing it.
As for the ‘money mule scam’, I have read stories of Nigerians living abroad becoming victims of this scam because they innocently gave their account details to someone back home to help them ‘pick’ funds. It’s sad because as an immigrant you have to be careful about everything you do in a foreign country, mistakes like this can cost you your visa and right to stay in that country.

[Promocodeudo]

You don’t have to quote the entire OP. We have talked about this many times and its discouraging to see a Hero member doing it.

I got my reasons for quoting the entire op but it's fine I also thank you for the heads-up although personally I don't see any discouraging stuff about this since I was trying to make a point, though am open to correction which you have sighted, so I wouldn't be doing that again since I now know that there are some users here that frown at it, thanks for the observations am grateful.

[Zanab247]

I was browsing the Internet to learn about the latest types of scams. The reason for this research is to understand more about scams because we fall victim to scammers due to ignorance and a lack of detailed knowledge about them. As I was going through my findings, I discovered a scam called the Money Mule scam.

Most times where people fall for scams it's usually because of greed sometimes they believe they can out smart the scammer not knowing that they are outrightly playing into the scheme laid out by the scammer. MLM scams and honey pot scams are the most successful set of scams with a very high number of victims. It's alarming how people just want to flip cash with zero effort within the twinkle of an eye.

You are right Mia Chloe, because there are always red flag for some people to know that this are scammers but greed will not allow them to ignore the red flag because they want to make it in an easy way. That is why no matter how people try to carry out research to expose scammers some people will still fall victim, because they like getting their daily bread from shortcut.

I know that scammers are everywhere both decentralized exchange P2P and centralized exchange banks to make use of the middlemen to convince people to think they are not scammers, but through their evidence you will surely identify they are scammers.

[CryptoHeadlineNews]

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

And secondly, if you happens to find yourself in such unfortunate situation whereby you got credited a huge sum you cant verify it's source, the first and best thing you need to do is inform the police immediately to report the case, so that if paraventure you gets arrested in the future and alleged of been part of the scammers, you could have evidence to proof your innocence. Because in most cases, when a huge sum is mistakenly sent into your account like this when you were literally not aware of, then it likely a money that might have been paid for ransom paid, but yet those people didn't used their account to avoid been traced. Hence, it's best you don't touch that money while assuming maybe "God has blessed you", because you don't know what could happen next.

[Merit.s]

You can fall victim to this kind of scam, if it's your friend that ask you for your account number unknowingly to you that he is into money mule. I received a call from a stranger a few months back claiming to be my friend who has become rich and wants me to celebrate with him. I was happy even though, I don't recognize the voice of who is talking to me.

Immediately, he told me give him my account number, that was when I took precaution of his request. I told him that I have Opay account and he insisted that I have to transfer some part of the money back to him into his account because someone else will do the transfer. I called him a scam and dropped the call. One need to be careful to avoid story that touches.

[Agbamoni]

This trick is used by local scammers on a daily basis. We should be careful who will trust to have any financial deal with that is linked to cryptocurrencies. I know of a friend that was arrested, because his cousin called him and aske him to receive up to 5 million that will be sent from someone he dont know. Not knowing this money was stolen by a bank manager who manages the account of a strong business man in ABJ. This how he was missed into something he knows nothing about. Always ask question before you accept to help anyone receive any money that was not meant for you.

[CryptopreneurBrainboss]

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

As an educated human being, why will you be receiving money for others irrespective of their relationships to you without knowing the source of the money or aren't we aware of the scams ongoing in the country. This isn't new and it doesn't matter the name they call it because we'll keep having scams like this popping up. If percentage makes us to take the fall for what the culprit of this scams are doing then we get to face the consequences of our actions when our luck runs out. Poverty shouldn't make us to put our hand in things that we should be avoiding. There's many other ways to make that it mustn't be scamming or soliciting for those doing it.

[Marykeller]

It is even possible for someone you are familiar with to lure you into such a scam without your knowing it is a scam, all in the name of helping in receiving money.

Nothing dey impossible, everything don begin to look possible these days. People no get conscience again, them don sell out their conscience for money. They can do the undo to make sure money d enter their hand on a regular. Na why I been the tell people say, trust no one even na your blood cos you no know they can business them d do, to sustain themselves in the current hardship of the country.

So, bear it in mind that People are bad, na why we need to wise up ourselves to be vigilant and smart, to mind the people we interact with, or keep close to our circle because na from small mistake from our end, we go fit d pay dearly for it. Na why it is necessary to trust less on people these days because those you call your friend or brother go fit betray you for money matter. Taking any precautionary method to stay safe in your day to day activities, not to fall victim to scam, or be hold responsible of wetin you no know, will save a lot than being caught off guarded because you make a simple money transaction that should be avoided

[Lembo69]

Scammers always roam among close people. Because no outsider knows that much about you. But those who are close know everything about you. They are aware of where you go, who you mix with, what you like to do, which makes it easy and convenient for them to scam. Who will you trust in this world? Brothers and sisters fight for Naira. Relatives push you away if they don't have Naira. And those people will eventually betray you. Scammers can scam you in any way.

You have to be careful with scammers. They will try to trap you in their net in any way. You just have to keep your eyes and ears open and try to understand everything. Only then will you understand the scammers' plan.

If you don't want to be a victim of a scam, never share your personal information with anyone.

[Orpichukwu]

For safety, never share your wallet address or bank details with anyone, even a friend, for money that you can't verify how they obtained. No matter the percentage that will be given to you, this might be a trap that could lead you to financial fraud.

No matter how hard we try to avoid some certain issue and situation, we can't completely be free from them. We can only try hard to make sure we don't become victims, but in most cases, issues come from where we least expect them.

Have you thought about how dangerous it might be with our addresses, which are public in this forum? Sometimes it cannot be from someone who approaches you and asks you for your address to help them receive funds; sometimes anyone who has evil intentions for you can implicate you with your address by sending part of a tainted coin to your address, for which you will need hard evidence to defend yourself.