{"id":4988,"date":"2022-01-24T18:19:36","date_gmt":"2022-01-24T10:19:36","guid":{"rendered":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/?p=4988"},"modified":"2022-01-24T18:19:36","modified_gmt":"2022-01-24T10:19:36","slug":"few-tips-to-help-fight-against-fraud-and-money-mules","status":"publish","type":"post","link":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/?p=4988","title":{"rendered":"Few tips to help fight against fraud and money mules"},"content":{"rendered":"

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With all the fraud and cybercrime unfortunately happening today, a harmless act is to transfer money between bank accounts for someone else. Although such a transaction does not appear to break any rules, if you participate in it, it can unknowingly become an illegal money mule for cyber criminals and scammers.<\/p>\n

A money mule is someone who moves illegally acquired money on behalf of other people, in exchange for a small commission or fee. This is actually a crime prohibited by Republic Act 9160, or the Anti-Money Laundering Act of 2001. If you get caught being a money mule, you can get up to seven years of jail time and a fine of up to P3 million\u2014all for receiving and transferring money in your bank account!<\/p>\n

\u201cMany people don\u2019t know what they\u2019re getting into when someone asks them if they can make random bank transfers using their account. Nobody ever thinks that there is actually a crime associated with simply transferring money,\u201d says Joey A. Regala, Chief Information Security Officer at EastWest.<\/p>\n

As the possibility of inadvertently getting involved in a crime can cause fear among everyone, here are a few tips to help fight against fraud and money mules, so you can reclaim some peace of mind:<\/p>\n

    \n
  1. Be careful of strangers, or even acquaintances, contacting you<\/strong><\/li>\n<\/ol>\n

    Money muling requests often come from strangers, so whatever you do, don\u2019t entertain people you don\u2019t know or trust. Also be wary of friends and acquaintances you don\u2019t regularly talk to, especially if they make a seemingly random request.<\/p>\n

      \n
    1. Never give away your bank account details<\/strong><\/li>\n<\/ol>\n

      All fraudsters need are your bank account number and name to make the deposit, so never give these details away.<\/p>\n

        \n
      1. When the offer is too good to be true, it usually is<\/strong><\/li>\n<\/ol>\n

        Getting a small fee in exchange for a seemingly innocent fund transfer between two different accounts? That easy money should already be a red flag. \u201cAnyone can transfer money between two accounts easily nowadays, so having it go through a third party should already seem suspicious,\u201d says Regala.<\/p>\n

        Now that you know what to look out for, it\u2019s absolutely easy to avoid becoming a money mule and accidentally committing a crime.<\/p>\n

        EastWest\u2019s advocacy against money mules and money laundering is part of its commitment to the Bank Marketing Association of the Philippines\u2019 (BMAP) #FightFraudTogether campaign, which aims to raise consumer awareness and vigilance against general cybercrime and fraud. Through this campaign, BMAP recognizes that fighting fraud is a shared responsibility among institutions, customers, regulators, and associations.<\/p>\n","protected":false},"excerpt":{"rendered":"

        With all the fraud and cybercrime unfortunately happening today, a harmless act is to transfer money between bank accounts for someone else. Although such a transaction does not appear to break any rules, if you participate in it, it can unknowingly become an illegal money mule for cyber criminals and scammers. A money mule is […]<\/p>\n","protected":false},"author":3,"featured_media":4991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-4988","post","type-post","status-publish","format-standard","has-post-thumbnail","category-events"],"zyndk8_nxtgen_metadata":[],"_links":{"self":[{"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts\/4988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4988"}],"version-history":[{"count":0,"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts\/4988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=\/wp\/v2\/media\/4991"}],"wp:attachment":[{"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/helpful-tan-mule.62-146-234-241.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}