This page describes a real fraud type affecting SWIFT wire transfer users. If you believe you have been targeted, do not send money and contact your bank immediately. Verify any SWIFT payment free using the UETR tracker at the bottom of this page.
Money Mule Recruitment Fraud
A money mule is a person who receives stolen funds via SWIFT wire transfer into their personal bank account, then forwards them on (minus a "commission") to an overseas account. Money mules are the critical last link in international wire fraud, helping fraudsters launder proceeds across jurisdictions. Recruiting mules is a major operation — fraudsters use job ads, social media, dating apps and email campaigns to find unwitting (or sometimes knowing) participants.
How This Fraud Works
The victim sees a job ad or receives an approach offering easy income: "receive payments into your account and forward them on for a commission of 5-10%".
They are told this is legitimate business (international sales, cryptocurrency exchange, overseas payment processing).
The fraudster sends SWIFT wires to the mule's account — these are proceeds of BEC fraud, romance scams, investment fraud or other crimes.
The mule forwards the money via SWIFT, Western Union, cryptocurrency or cash, keeping the agreed commission.
When the fraud is discovered, the mule's bank account is frozen and they face criminal investigation for money laundering — even if they believed the arrangement was legitimate.
Red Flags — Warning Signs
A job offer involving receiving money into your personal account and forwarding it on.
Being asked to open a new bank account for the purpose of receiving payments.
"Commission" of 5-10% just for forwarding transfers — no other skill or qualification required.
The employer is based overseas and you never meet them in person.
Being told to keep the arrangement secret from your bank or family.
The funds you receive are significantly higher than the amount you were told to expect.
How to Verify Before Acting
There is no legitimate job that involves receiving money into your personal account and forwarding it on — this is always money laundering, regardless of whether you knew the money was stolen.
Check the company with Companies House (UK), SEC Edgar (US) or your national business registry.
If you have received a SWIFT wire you suspect is a mule transaction, contact your bank immediately and do not forward it.
What To Do If You Are Targeted
Do not forward any money. Contact your bank immediately to flag the incoming wire.
If you have already forwarded funds, report yourself to your bank and to your national fraud authority — voluntary disclosure is treated more leniently than discovery by investigation.
Stop all contact with the recruiter.
Be aware that "I didn't know it was fraud" is not always a valid legal defence for money laundering — prosecutors look at whether you took reasonable steps to verify the arrangement.
Verify Any SWIFT Payment — Free in 30 Seconds
Paste the 36-character UETR from any MT103 or payment confirmation. If the payment is real, Ohmyfin shows the live SWIFT GPI status. If it's fake, it shows "not found". Free for individuals.
Yes. Knowingly or recklessly facilitating money laundering is a serious criminal offence in every jurisdiction, carrying prison sentences of up to 14 years in the UK, 20 years in the US. "I was just forwarding the money" is not a defence — you have a legal obligation not to handle proceeds of crime.
What happens to my bank account if I receive a fraudulent SWIFT wire?
Your bank will freeze your account as soon as the fraud is identified. All accounts you hold at that bank may be affected. A Suspicious Activity Report (SAR) will be filed. You may be investigated for money laundering, and you will likely be unable to open a new account at most mainstream banks.
How can I tell if a payment I received was fraudulent?
If the amount is unexpected, the source is unknown, or someone is pressuring you to forward it quickly, treat it as potentially fraudulent. Check if the UETR on the payment corresponds to a legitimate transaction on Ohmyfin. Contact your bank immediately — they can check the payment origin.