ABM: Mule Account Scam

ABM: Don’t fall for mule bank account scams

Shopee CNY

I’m sure you’ve heard of drug mules. But what about a mule bank account? By definition, they’re both used for the same purpose—to smuggle, just in a different context and via different platforms.

The Association of Banks Malaysia (ABM) has warned that mule account scams are part of a new syndicate operation that uses people’s bank accounts to send and receive money under the radar of authorities. 

Syndicates offers monetary gain and rewards to people to share bank accounts with them. These mule accounts are used for illegal activities.

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Even though you’re a victim, you can be prosecuted if you’re caught, for helping the syndicate’s operation.

You may face difficulties in opening new bank accounts or getting a loan in the future.

You can check if your account has been compromised by visiting http://ccid.rmp.gov.my/semakmule/

Contact and report to the authorities as soon as possible if discover anything suspicious about your bank account.

In January this year, the Royal Malaysia Police (RMP) detained 145 individuals suspected to have allowed their bank accounts to be used by others as mule accounts. They comprised of 90 male and 55 female foreign nationals and locals detained nationwide.

The Bukit Aman Commercial Crimes Investigation Department (CCID) said that the suspects, aged between 19 and 63, were mostly students, retirees and drug addicts.

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It was revealed that some account owners receive monetary gains in exchange for the use of their bank accounts, while others did it voluntarily or for reasons of love.

Some borrowed from loan sharks and had to surrender their ATM card and PIN, supposedly to make monthly payment deductions.

The public has been urged to not be fooled by offers from individuals or syndicates promising profits in return for allowing their bank accounts to be used. 

Never share your bank account details with anyone, and keep your ATM card and PIN safe at all times.

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