SURREY, B.C. — Police and the British Columbia Securities Commission say they have delivered warnings to 10 suspected"money mules" in an effort to fight investment fraud aimed at people in the province.
They say the use of the so-called mules is a common tactic in money laundering, helping criminals move their cash by concealing the source and destination of the funds. It adds that in some cases, the mules might not realize they are transferring funds on behalf of criminals and they themselves may also be victims.
The statement says criminals use a variety of tactics to recruit people to act as money mules, often offering a portion of the transferred funds as payment.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »