Money mule scams

What is a money mule?

A money mule is someone—sometimes knowing, sometimes not—who lets criminals use their bank account to move stolen or illegal funds. In exchange, they might get a small cut. It can seem easy. Harmless. But it's not.

Often, it starts with what looks like a simple opportunity. A work-from-home job or a fast cash deal. Maybe a request from someone on social media, claiming they need help moving money quickly. It might sound like this:

• "Just open a bank account for me and I'll pay you."

• "We accidentally sent money to your account. Can you forward it to someone else?"

• "Make quick money helping process international payments."

These offers are almost always scams. And once you agree, you're inside a money laundering operation, possibly without knowing it. That's exactly what these criminals count on.

Watch out for these red flags:

• You're offered money just for opening a bank account

• Someone offers you money to "borrow" your bank details

• You get paid to move money that isn't yours

• You're pressured to act fast, without asking questions

• The job doesn't seem to have a real business behind it.

These scams don't just affect teenagers or young adults. We're seeing more cases among people in their 30s, 40s, and older, especially those doing it tough financially. Criminals know how to spot vulnerability. They exploit it.

International visitors, including students, can also be targeted. Don’t assume that returning overseas will shield you from consequences. But the impacts can follow you, both financially and legally.

The consequences of a money mule scam

This is serious crime. Money laundering funds terrorism, child exploitation, drug trafficking, and more. And if you help—even unknowingly—you could be charged and convicted under Australian law.

You could face:

• A criminal record that affects future employment, travel, housing, and visa applications

• Frozen or closed bank accounts, including loss of access to legitimate funds

• Banks declining or restricting future access to banking services

• Debt, if you've passed on stolen money or been tricked into spending it

• Police charges and even prison time for repeat or knowing involvement.

Saying "I didn't know" might not protect you. Ignorance is not a defence under anti-money laundering law.

Think you've been scammed? Here's what to do

If something feels off, act now. The faster you respond, the better chance we have of limiting damage and protecting your identity and funds.

Here's what to do:

1. Stop all contact with the person or group involved

2. Do not send any more money or share account details

3. Report the incident immediately. Contact us online, call us on 13 19 87, or visit your nearest branch.

4. Check your account for unfamiliar transactions

5. Update your passwords and set up two-factor authentication.

Bottom line: if it feels shady, it probably is. Your bank account is your identity. It's not a product to rent out or hand over.