What do you know about fraud?

Nowadays, many people are victims of fraud, mainly because of the lack of information. Violently sanctioned by the competent authorities, it is necessary to know what it is all about. To find out in the rest of this article how it is done, the sanction that is applied, and how to avoid being a victim.

How it works

Mude fraud is generally used in two instances. Firstly, the term appears when there is money laundering and transfer of funds used by cybercriminals with another person's account (bank mule), to eventually transfer the illegally acquired money from that account to another account. Secondly, it is often used when there is a transfer of illegal goods such as drugs from point A to point B by a person called: a bank mule. In the majority of cases, bank mules are not aware of the scam that is involved. Either it is to help a friend, or to do a service in order to be paid back when they are in financial crisis situations. It is therefore very easy to be fooled and to be sanctioned in accordance with the texts governed by the law.

The sanctions are foreseen for banking mules and rules to be kept

In accordance with the applicable texts of law to deal with fraud, when you find yourself in the position of a bank mule, you expose yourself to serious sanctions whether you see conscious or not. Generally, you risk a prison sentence of 5 years and a fine of 375,000 euros for money laundering. So, to avoid being tricked; never give out your bank details; never open phishing emails, and above all, never trust anyone. When you are asked for a service, always take the trouble to find out more about what you need to do and what your responsibilities are.