Money Mule Scams

Money Mule Scams

Understanding and Preventing Money Mule Scams

Don't be tempted by quick money. Don't lend your bank account to anyone to launder money.

A money mule is someone who transfers or processes illegal money on behalf of others. Beware of criminals who offer quick money via telemarketing or social media platforms to lure the public into selling or lending their bank accounts or use their personal credentials to open bank accounts. Criminals will then use these stooge accounts to receive / launder fraudulent payments or other crime proceeds.

Never sell or lend your bank accounts or personal credentials to others as these might be abused for unlawful purposes and may expose you to the risk of committing money laundering offences – the maximum penalty is a fine of HKD5 million and 14-year imprisonment. View more security tips.

Image 1: The Hong Kong Monetary Authority’s promotional poster on stooge accounts

Image 2: The Hong Kong Police Force Financial Intelligence and Investigation Bureau’s anti-money laundering and counter-financing of terrorism campaign "Project AccFencers - AML Month" poster