Police in London have arrested a 34-year-old man accused of organizing a money mule cyber-crime ring, V3.co.uk reports.
Officers said the suspect allegedly hired individuals working as money mules as part of an operation that included stolen and counterfeit bank cards.
Money mules often operate unaware of the illicit nature of their activities, recruited to accept transfers from compromised bank accounts and send the money to accounts run by cyber criminals.
“Money mules are one of the key enablers for all types of fiscal fraud, and Internet-based crime in particular,” detective inspector Paul Hoare of the Police Central e-Crime Unit told V3.co.uk. “Individuals tempted by advertised job opportunities moving money using their bank accounts should not get involved as they could be taking part in wider organized money-laundering crime.”