Money-Mule Schemes: How to Protect Your Institution or Customers are Involved in Fraud. The FDIC issued an alert to financial institutions about the increasing number of money mules. Money mules are using U.S. financial institutions accounts to help overseas criminals launder money. Financial institutions are required to file Suspicious Activity Reports (SARs) and take necessary steps to close down suspected money mule accounts, the FDIC says. The alert listed some of the different ways these accomplices operate.”]
Source: https://www.cuinfosecurity.com/money-mule-schemes-how-to-protect-customers-a-1899