The misled mule has zero criminal intent but still adds to the growing money laundering problem that banks and FIs are facing. This person is a genuine customer of a financial institution and receives, deposits, or transfers money under good faith that the activity is normal and legal. For example, the misled mule may be involved in an organization such as a charity, small business, or religious group that is laundering money behind the scenes. In this case, the customer may regularly participate in money laundering activities with their personal accounts without knowing all the details. This persona is difficult to detect with standard methods, as the account and account holder are genuine and display common behavior. However, Mule Account Detection can detect this persona by observing changes in payment amounts, velocity, and data familiarity.
By detecting this persona, banks and financial institutions can protect their customers, reduce investigation time, and protect their businesses. Click here to learn more about how Mule Account Detection is leading the fight against money laundering operations.
use cases (FRAML)
The account peddler