The side hustle scam: when easy money turns you into a money mule

South Africa’s official unemployment rate is 32.7%, meaning roughly one in three economically active people is unemployed. This has created a deeply vulnerable and increasingly desperate population, particularly among young people searching for any source of income.

Whether you're between jobs, studying or simply trying to make your salary stretch further, opportunities promising quick cash can be tempting. And that's exactly what criminals are counting on.

Fraudsters exploit this desperation by recruiting people to open or “lend” their bank accounts in exchange for quick cash. These accounts are then used to receive, move or withdraw the proceeds of crime.

“Fraudsters are increasingly recruiting people through fake job offers and so-called side hustles. The work sounds simple: receive money, send it to someone else and keep a percentage for yourself,” says Bonolo Sebolai, Head of Fraud at GoTyme Bank.

“What they don't tell you is that the money may be linked to fraud or other criminal activity. Many people only realise they've been caught up in a money mule scheme when their bank account is flagged, restricted or investigated.”

At GoTyme Bank, protecting customers isn't only about stopping fraud. It's also about helping people recognise the warning signs before they become victims.

The "job" isn't really a job

Fake job offers can be surprisingly convincing. You might receive a professional-looking contract, detailed job description or branded company documents. The approach may come through social media, WhatsApp or online job platforms.

The job titles often sound ordinary:

• Payment Processor
• Data Capturer
• Financial Administrator
• Remote Payments Assistant
• Account Coordinator

Then comes the catch: you're asked to receive money into your personal account, transfer it elsewhere and keep a portion as commission.

That's the moment to ask: if a legitimate company needs to move money, why is it using your personal bank account?

The funds may have come from scams, fraud or other criminal activity. By receiving and transferring them, you could be helping criminals hide where the money came from and where it's going.

Why job seekers are being targeted

According to GoTyme Bank's fraud team, financial pressure can make it easier to overlook red flags, especially when an offer appears legitimate and arrives at the right moment.

“You may be told you're helping a business to process payments, that someone's account is temporarily unavailable or that moving money is simply part of an administrative role due to the company not having local operations," explains Sebolai. “The story may differ from one case to the next, but it usually comes down to the same requirement: someone wants to use your account to move money.”

What to look out for

Be cautious if an opportunity:

• Pays you simply to receive and transfer money
• Promises unusually high earnings for very little work
• Requires you to use your personal account for business transactions
• Asks you to open an account for someone else's benefit
• Offers employment without a proper interview process
• Pressures you to act immediately
• Insists the arrangement remain confidential

Don't assume something is legitimate simply because it looks professional. Fraudsters can create fake contracts, employment letters and company documents that appear genuine.

"I'm just moving money" isn't a defence

Money mule schemes are not harmless.

“Stolen money is often moved through multiple accounts before reaching its final destination, making it harder for banks and law enforcement agencies to follow the trail.

Behind those transactions are real victims who may have lost money through scams, fraud or theft. What looks like a simple transfer can form part of a much larger criminal operation,” warns Sebolai.

What if you're already involved?

If you suspect you've unknowingly become involved in a money mule scheme:

• Stop all activity immediately
• Do not transfer any more funds
• Contact your bank as soon as possible
• Be honest about what happened
• Follow the bank's guidance

The sooner you contact your bank, the more chance there is of stopping additional money from moving through the account.

One rule worth remembering

Legitimate employers do not generally ask employees to receive money from strangers and send it elsewhere using their personal banking profile.

The safest rule is simple: never allow someone else to use your bank account to move money.

What looks like easy cash today could have consequences long after the money is gone.