20 min listen
From Crypto to Online Romance, How Money Mule Tactics Are Evolving
From Crypto to Online Romance, How Money Mule Tactics Are Evolving
ratings:
Length:
24 minutes
Released:
Dec 16, 2021
Format:
Podcast episode
Description
With the pandemic and other factors triggering growth in — and new dimensions of — “money mule” scams, how what should bankers watch out for? On the latest episode of the ABA Banking Journal Podcast — sponsored by ServiceLink — two bank fraud and AML professionals share trends they’re seeing, including: Why money mules are increasingly seeking to open business accounts to move illicit cash The growing intersection of money mule scams and online romance scams How money mule victims, once informed by the bank that they’re likely involved in scam, move from unwitting participants to witting accomplices The increase in cryptocurrency angles on money mule scams Red flags that frontline bank staff should be on the lookout for How money mule fraudsters perpetuate multiple cycles of fraud with the same victims through “recovery scams” View the ABA Foundation/FTC infographic on money mule scams.
Released:
Dec 16, 2021
Format:
Podcast episode
Titles in the series (100)
Seeing Results from Community Bank Advocacy: Even the best-intentioned policies often face implementation challenges when they meet the real world. For example, the Ohio legislature required banks to use a pooled asset system for collateral for public funds — “in theory, a great idea” that... by ABA Banking Journal Podcast