Different stories, same risk: how ordinary people get caught in money mule schemes

You could be a money mule.

You don’t have to be part of the criminal underworld to become part of a criminal scheme. You could be a student looking for extra cash, a jobseeker desperate for an opportunity, or someone simply helping a friend who says they can't use their own bank account.   

The circumstances may differ, but the outcome can be the same: your bank account becomes part of a chain used to move money linked to fraud or other criminal activity.

Throughout this series, we've explored what money mules are, how criminals recruit people through fake jobs and side hustles, and why the promise of easy money can come with serious consequences. But sometimes the easiest way to understand the risk is to see how it plays out in real life.

"Fraud is the flame, and mule accounts are the oxygen that keeps it burning," says Bonolo Sebolai, Head of Fraud at GoTyme Bank. "Every case looks different on the surface, but underneath, someone always needed access to a bank account that wasn't theirs."

The “job” that uses your bank account

Imagine you've been applying for jobs for months when a promising message finally arrives. The company looks legitimate, the recruiter sounds professional, and the role seems straightforward. You're told you'll work remotely as a "payments assistant" or "account coordinator."

Money will be deposited into your account. Your job is to transfer it elsewhere and keep a percentage as payment. You even receive an official-looking employment letter, complete with a company logo and signatures.

It sounds like an easy job, right?

Legitimate employers don't use employees’ personal bank accounts to move company money. If you're asked to receive and transfer funds, what looks like your first day at work could actually be your first step into a money mule network.

Someone you trust who "just needs a favour"

A friend says there's a problem with their account and asks to use yours "while they sort things out with their bank." Or  your new boyfriend needs a separate account to manage funds from his side hustle.

You trust them, so you agree. The problem is that you have no idea where the money moving through your account actually came from. If it's linked to fraud, your account becomes part of the trail, and it's your name that appears when transactions are investigated.

Someone who is trustworthy should not ask you to put your account, money or reputation at risk.

Getting “rental income” for your bank account

Sometimes the offer is framed as a straightforward ‘rental’ agreement.

The deal is simple: you’re recruited to open new bank accounts on someone else's behalf, often in exchange for a small payment. Once the account is opened, control of it and the linked phone is handed over completely.

Maybe you'll be paid more if you recruit friends.

You may not know where the money comes from, but you don't ask.

"People will pay you R500 just to receive money on your account," says Sebolai. "It looks like free money in the moment, but the more accounts the funds pass through, the harder it becomes to trace where it originally came from."

That rental fee can come with serious consequences if your account becomes linked to suspicious activity.

"The biggest mistake people make is believing that because they didn't steal the money themselves, they can't get into trouble," says Sebolai. "Unfortunately, that's not how it works."

Your bank account is not something to lend, rent or sell. Treat access to it with the same care you would any other sensitive personal information.

Different circumstances, the same warning

The jobseeker, the friend doing a favour, the person earning commission and the individual recruited to open a new account all have one thing in common: someone else needed access to their bank account to move money.

That should always be a warning sign.

Fraud is constantly evolving, which means preventing it requires both banks and customers to play their part. For customers, one of the simplest ways to protect yourself is to keep control of your account.

Don't receive or transfer money on behalf of strangers. Don't let someone else use your account because theirs "isn't working." Don't share your banking credentials or hand over access to an account, new or old. And be suspicious of jobs that require your personal bank account to process company payments.

Your bank account belongs to you. Keep it that way.