Criminals are increasingly targeting students to get involved in money muling. These scams can seem enticing but can have serious consequences.
What is Money Muling?
A money mule is someone who is used by criminals to transfer stolen money. Often, you might be offered an easy job involving receiving money into your bank account and then moving it to another account or cryptocurrency exchange. This money is frequently used to fund other serious crimes, including cybercrime, terrorism, and human trafficking.
Participating in money muling is a serious crime in Australia. If convicted, you could face imprisonment from 12 months to life. Besides the legal consequences, you risk breaching your bank’s terms, which could result in losing access to your bank accounts.
How can you protect yourself?
To safeguard yourself, follow these four essential steps to identify and avoid potential scams:
Where can you find help?
If you believe you have fallen victim to money muling, it’s crucial to act quickly. Report the incident to the police using the Report button at the cyber.gov.au website.
For additional support and resources, you can also consult the following sources:
– Australian Cyber Security Centre (ACSC)
– Your bank’s fraud department
– Local law enforcement agencies
If you would like to learn more, head to the Australian Government Department of Education website.
Stay vigilant and protect yourself from becoming a victim. #DontBeAMule
