What is a mule account?

In basic terms a mule account is a bank account that criminals use to receive and transfer funds as part of the money laundering process, in a way that it cannot be traced back to them.

Criminals may open and use accounts by stealing other people’s identity or convincing people to open accounts for them, criminals can use different techniques to recruit someone to open a mule account, such as offering a share of the amount transferred through the mule account, or they can create fake job offers for example. Alternatively criminals might also take over accounts of innocent people to use their accounts to launder funds.

Money laundering is an illegal activity that can result in a fine, or even a prison sentence, as well as a criminal record which can impact the life of the person behind the mule account in the future, even if this person is not aware of the source of the funds or the purpose, touching illegal funds and moving them on behalf of someone else makes the money mule complicit in the crime.

In addition, funds that are laundered can also go on to finance other illegal activities such as human trafficking, drug smuggling, and terrorism.

You can find out more on the Eurorpol Website (new tab).

Criminals use a number of different ruses to convince people to help them.

They may use social media to post adverts that target people in need of quick money for minimal effort, or who are going through a difficult time financially. 

• They might post fake jobs online and then advise that you need to open an N26 account to receive your wages
  • They may also provide you with the credential to set up the account with such as an email address they have access to, or phone number that doesn’t belong to you 
• They might ask if someone would allow them to use their account on a temporary basis to send funds to an overseas account and then as a thank you, allow you to keep a percentage of the transfer.
• They may offer a loan service but require that the loan is to be paid into a specific bank account

• Report the account to N26 so that we can take appropriate action either via email or by opening a chat with our customer service agents. You can find all the information on how to do so here (new tab)
• Report the crime to the police or appropriate authorities

How can I stay safe?

• Do not share you account credentials with anyone or allow anyone access to your bank account
• Do not create accounts for a job or because someone asks you to
• Pay attention to job applications:
  • Look for unrealistic high pay for minimal experience or workload
  • Jobs that require no contract
• Do not agree to receive and transfer money on behalf of someone else, even if they offer commission or payment for your services.
• Remember if it seems too easy or too good to be true, it probably is.