‘Easy money’ scam warning as criminals recruit money mules online

SCAMMERS are targeting Australians on social media with offers of “easy money” to lure them into money laundering schemes, prompting a warning from cybercrime experts.

Known as money muling, the practice involves criminals paying people to open bank accounts or hand over their details so stolen funds can be moved.

NGM Group, which includes Newcastle Permanent, said fraudulent account openings had jumped 20 per cent, with more than 400 attempts made in July alone.

Head of financial crime operations Craig Hollingsworth said the approach was becoming increasingly brazen.

“These criminals can be blatant, offering a few hundred dollars in payment to people who are willing to open an account on their behalf,” Hollingsworth said.

“They are scammers who are very good at exploiting people who may be too scared to refuse or do not understand that what is being asked of them is not just serious, it’s illegal.”

Authorities warn money muling is linked to child exploitation, drug trafficking, terrorism and illegal gambling.

Even first-time offenders risk frozen accounts, debts, restricted access to banking, a criminal record and jail.

“Your bank account is your identity, it’s not a product to rent out or hand over,” Hollingsworth said.

“If someone is offering you easy money to move funds or open accounts there’s a good chance you’re being drawn into criminal activity, so the best thing to do is walk away.”

Scams Awareness Week ends Friday, August 29.