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Criminals can put stolen money in your bank account, keep these things in mind to avoid

Criminals can also fraudulently put the stolen money in your bank account.

Safe Banking Tips: In today’s era, most people do their related work through smartphone or internet. This is the reason that nowadays the cases of bank fraud are also increasing rapidly. In such a situation, it is very important to stay away from these types of frauds. One of these ways is that criminals can fraudulently put the stolen money in your bank account. Its victims are called Money Mule. Let us know about it in detail.

What is Money Mule?

Money Mule is a term used for people whose bank accounts are fraudulently stolen or illegally deposited by criminals. When these incidents happen, those individuals become part of the police investigation, as they are also involved.

How does this happen?

  1. Criminals contact customers through email, chat rooms, job websites or blogs and persuade them to take money into their bank accounts in exchange for an attractive commission.
  2. The criminal then transfers the illegal money to his account.
  3. Then that person is asked to transfer the money to another such implicated person. This creates a chain and in the end the money comes into the account of the criminal.
  4. When such frauds happen, then the victim of this also becomes the target of police investigation.

How to avoid this fraud?

  1. Do not respond to emails asking for your bank details for a job abroad. Verify the company’s identity and contact details first.
  2. Don’t fall prey to attractive offers of commission or agree to take any unauthorized money into your account.
  3. Before doing business with any person or company, do your research. When transferring money, use a method that makes the transaction secure. For example, many banks, credit cards and services offer fraud protection.
  4. Monitor transactions, check withdrawals from your bank account and track orders.
  5. If you find any problems, contact the appropriate organizations immediately. Depending on the circumstances, this may include your bank, the service used to perform the transaction, or legal entities.

This Dussehra, end these five bad habits related to investment, you will be able to make the future better

Have you changed your job? So do this while sitting at home, transfer your PF amount


Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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