First, let’s quickly establish what the term means and where it comes from.
Wikipedia defines the mule:
“The mule is a domestic equine hybrid between a donkey and a horse. It is the offspring of a male donkey (a jack) and a female horse (a mare). The horse and the donkey are different species, with different numbers of chromosomes; of the two possible first-generation hybrids between them, the mule is easier to obtain and more common than the hinny, which is the offspring of a male horse (a stallion) and a female donkey (a jenny).
Mules vary widely in size, and may be of any color. They are more patient, hardier and longer-lived than horses, and are perceived as less obstinate and more intelligent than donkeys.”
Mules have a long history with a reputation for being hard workers. They have been instrumental in the development of agriculture at a time when resources were scarce but hard work was fruitful in the form of a crop that put food on the family table. My grandpa and his brother used mules to haul and deliver railroad building materials, crops, and skid logs when harvesting lumber. They converted hard laborious work into income in order to support their family. However, the more modern term “Money Mule” has a much darker contrast…
Online and over the phone scams are running rampant. The scammers cast a wide net and eventually find someone willing to accept a payment through various means. That someone is about to become a Money Mule. People fall for this scam for different reasons: Sometimes they are having a hard time financially and they think that this is an opportunity to catch up — so they don’t ask questions. Other times they are susceptible to manipulation because the scammer appeals to their loneliness under the guise of a romantic long distance relationship or creates a false work from home opportunity. While it may sound like the Money Mule is a victim, they often find themselves in a unique situation where they are also part victim and part accomplice.
The scam at the basic level works like this. The mule receives money and the scammer has them convert it into another type of payment and send it somewhere else. It sounds like money laundering — because it is. In most situations the scammer has stolen the funds and is trying to hide their activity and make it harder to recover the funds for the original victim. The thing is… The Mule will inevitably be the one responsible for the stolen money. They are left holding the bag – so to speak.
So in the spirit of what this blog potentially could be: 0pSec – or Operational Security – Let’s talk about a few of the things you can do to keep yourself from being in a regretful situation.
Here is a quick info graphic that takes you through the process and provides some great info.
https://consumer.ftc.gov/consumer-alerts/2020/03/whats-money-mule-scam
- Don’t accept a job that asks you to transfer money. They may tell you to send money to a “client” or “supplier.” Say no. You may be helping a scammer move stolen money.
- Never send money to collect a prize. That’s always a scam, and they might be trying to get you to move stolen money.
- Don’t send money back to an online love interest who’s sent you money. Also always a scam — and another a way to get you to move stolen money.