<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Money mules" renting out their bank accounts are helping criminals launder millions of dollars in Australia.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Australian Federal Police and the Australian Banking Association are urging Australians to not share their banking details or loan their account out, as they step up efforts to curb this criminal activity.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Money mules are people who – knowingly or unknowingly – are recruited by criminal syndicates to transfer illicit money in and out of their personal accounts to make the funds appear legitimate to authorities.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/ozzy-osbourne-death-black-sabbath-lead-singer-and-heavy-metal-pioneer-dies-aged-76/90b1cd81-6cc1-49a5-8404-95749e9c7634" rel="" target="_blank" title=""><strong><span>Ozzy Osbourne dead at 76, just weeks after final concert</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Money mules may also rent or sell their account for a payment.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This routing of money through a legitimate Australian bank account obfuscates the flow of the dirty cash, making it difficult to track.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The mules are paid anywhere from $200 to $500 for the use of their personal accounts and may receive a commission on funds received into their accounts (typically about 10 per cent).</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/money-mules-targeted-federal-police-warn-against-lending-out-bank-accounts-to-criminals/573446d4-d8e2-4d91-858e-76c15ef99d8a" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/hecs-debt-reduction-how-it-will-change-your-pay-from-july-this-year/763cad42-a590-424e-b7f0-a4920cecb367" rel="" target="_blank" title=""><strong><span>PM to act on promise to slash debt for millions today</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Criminals target potential money mules through social media, messaging or gaming platforms, chat forums, online advertisements and even in face-to-face meetings.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Job and romance scams and even outright threats have been used to gain access to people's bank accounts for fund transfers.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Criminal networks are also increasingly instructing money mules to move funds through cryptocurrency exchanges/ATMs (CATM) and global money transfer apps, as these platforms enable faster and more discreet transfers than traditional banking institutions.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/two-thirds-australian-workers-looking-to-change-jobs-hays-salary-guide/a1d0de79-e91b-45d3-ac55-b4eb4a18dc98" rel="" target="_blank" title=""><strong><span>Staggering number of workers about to quit their jobs</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In these instances, money mules are instructed to withdraw physical cash from their account and deposit it into a CATM, where the money is sent to a digital wallet controlled by the criminal.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>According to Scamwatch, $141.7 million was lost to scammers via bank transfers last year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Money laundering convictions carry a maximum penalty of life imprisonment in Australia.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>AFP Detective Superintendent Marie Andersson said money laundering was an integral part of organised crime.</span></div></div><div class="styles__Wrapper-sc-2o34ro-0 cmwkBV"><div class="styles__Column-sc-2o34ro-3 jJDKrX"><a href="/content/2021/09/08/11/39/scams-in-australia-hackers-online-email-texts-targeting-innocent-people-in-pictures"><img alt="Online shoppers are being urged to be extra vigilant of cyber criminals ramping up fake text messages to scam unwitting Australian victims ahead of one of the biggest global retail sales events of the year." sizes="(min-width: 1024px) 636px, (min-width: 768px) 396px, 100vw" src="https://imageresizer.static9.net.au/CAXx0qW1yqwOQVK5WymsNoyqyxk=/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2Fdf60e9b5-9489-4e1a-9a88-1335dddbf78b" srcset="https://imageresizer.static9.net.au/CAXx0qW1yqwOQVK5WymsNoyqyxk=/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2Fdf60e9b5-9489-4e1a-9a88-1335dddbf78b 396w, https://imageresizer.static9.net.au/t-MLdIbXoLSFSjhKoSrmKKpHtM8=/636x358/https%3A%2F%2Fprod.static9.net.au%2Ffs%2Fdf60e9b5-9489-4e1a-9a88-1335dddbf78b 636w"/></a></div><div class="styles__Column-sc-2o34ro-3 jJDKrX"><div class="styles__Headline-sc-2o34ro-4 hpbOlz">Can you pick the Black Friday scam text message?</div><div class="styles__Button-sc-2o34ro-1 eBjlmW"><a class="styles__ButtonLink-sc-2o34ro-2 hqpklJ" href="/content/2021/09/08/11/39/scams-in-australia-hackers-online-email-texts-targeting-innocent-people-in-pictures">View Gallery</a></div></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It is illegal to rent, buy or sell bank accounts, and doing so supports the criminal ecosystem," Andersson said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Your account may be housing money derived from scams, extortion, drug trafficking and terrorism."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>ABA Chief Executive Anna Bligh said mule accounts were a key part of a scammer's business model and banks were focused on shutting them down.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I urge Australians to steer clear if you've seen an advertisement or are approached to rent or sell your bank account," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"There's a good chance you're being recruited to hide the profits of criminal activity."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If you are concerned your identity has been compromised, contact the national identity and cyber support service IDCARE.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>: Stay across all the latest in breaking 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