As curiosity rises around this topic Equifax has devised this educational infographic which helps answer the fundamental questions; including what a money mule is, how money muling works and how to spot ads for money mules. Equifax explores what could happen if you’re involved with such suspicious activity highlighting the severity of falling victim to becoming a money mule.
Educating the public is as crucial as ever, particularly as the latest Fraudscape report by Cifas found that in 2018, organisations reported over 40,00 cases of fraudulent abuse of bank accounts that bore the hallmark of money mule activity. This widespread issue only seems to be escalating as cases involving mule activity were up by 26% in 2018 compared to 2017.
The interactive infographic will lie within the Equifax ‘Knowledge Centre’ on their main website. This informational hub provides readers and customers with relevant content and guidance surrounding a variety of financial categories. You can read Equifax’s full interactive guide to Money Mules here.