Money mule

How it is used

Use in financial-crime detection; the term describes a role, not a complete legal finding.

Example sentences

1. The investigator suspected that the account holder had been recruited as a money mule.

   The person may be moving funds for someone controlling the scheme.

2. The bank's training explained how a fake job offer can target a money mule.

   Recruitment can disguise the real purpose of receiving funds.

Common collocations

• money mule network
• suspected money mule

Related terms

• money launderingHiding the criminal origin of money by moving it through banks, businesses or transactions so that it looks legal.
• fraudDeceiving someone to get money or another advantage illegally, such as using stolen card details or opening an account with a fake identity.

More terms: Regulation & Compliance

• compliance
• KYC
• AML
• regulator
• capital adequacy ratio
• suspicious transaction report
• Basel III
• sanctions
• terrorist financing
• PEP
• beneficial owner
• banking secrecy