Identifying and reducing the money laundering risks posed by individuals who have been unknowingly recruited as money rules

What is it about?

This paper starts by briefly defining a Money Mule before going on to discuss how Money Mules are recruited; where the money comes from; the role of Money Mules in the money laundering cycle; the possible criminal charges that may be filed against Money Mules and the recent efforts by international law enforcement agencies against Money Muling. This paper will then discuss the different mechanisms that banks can employ to detect illicit funds which are being received into the bank accounts of low risk or medium risk customers who are unknowingly recruited as “Money Mules”.

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