The National Police, the Guardia Civil and the Spanish Banking Association (AEB) have collaborated in the latest global action against money laundering through money mules, which concludes today, under the coordination of Europol in cooperation with law enforcement authorities from 27 countries, Eurojust, Interpol, the European Banking Federation (EBF) and the FinTech FinCrime Exchange.
Some 400 banks and financial institutions have joined the fight against fraudulent mule transactions and have helped prevent estimated losses of approximately €70 million, as part of the seventh European Money Mule Action (EMMA7) carried out between September and November 2021.
This blow to organised crime has made it possible to identify 18,351 people acting as money mules and 324 recruiters, and has resulted, so far, in 1,803 arrests, 2,500 investigations opened and 7,000 fraudulent transactions reported. It also sheds light on the use of mules for a wide range of scams, such as those based on SIM swapping, identity theft and phishing, among others.
This Europol, Eurojust and European Banking Federation (EBF) initiative, launched in 2016, is based on information sharing between the public and private sectors to combat money mule networks—people who, often unknowingly, contribute to laundering proceeds from illegal activities, such as drug trafficking, human trafficking or scams, by receiving and transferring money from their bank accounts, usually to other countries.
Organised crime groups particularly target groups such as students, immigrants and people facing financial hardship, offering them easy money through job adverts that appear legitimate and posts on social media.
The #NoSeasMula campaign launches today across Europe to raise awareness of this type of fraud and the serious legal consequences it can entail, such as prison sentences or a criminal record, even if money mules act without realising they are committing a crime.
Here you will find useful information on the modus operandi of these money mule gangs and tips to avoid being drawn into their crimes. You can also follow our recommendations on social media using the hashtags #DontbeaMule and #NoSeasMula.
Download here more information about money mules
