Title: Canadians Urged to Stay Vigilant: Awareness Campaigns on Money Mule Schemes Amid a Surge in Fraud Cases
Collaboration of Authorities to Raise Awareness
The Ontario Provincial Police (OPP), Canadian Anti-Fraud Centre (CAFC), and Royal Canadian Mounted Police (RCMP) have joined forces to launch an awareness campaign about money mule schemes in Canada. This comes after a significant rise in reported fraud cases during the past year, with losses amounting to an estimated $380 million.
Money Mule Schemes: What You Need To Know
Understanding the Role of a Money Mule
A money mule is an individual solicited by fraudsters to transfer stolen funds. Money mules may or may not be aware they are aiding in illicit activities. Once the funds have been moved, it can be challenging to trace the perpetrators.
Common Money Transfer Methods
The most common transactions involve bank wire transfers, email money transfers, money services businesses, and cryptocurrencies.
Identify and Prevent Money Mule Scams
Types of Money Mule Schemes
Money mules can be paid in various ways, including small percentages of laundered funds or loans for crypto investments. Being aware of these payment methods is essential to help prevent falling victim to money mule scams.
Section 462.31 of the Criminal Code of Canada
Actively participating in the money laundering process by being a money mule is against the law (Criminal Code of Canada, Section 462.31).
Join the Conversation: Stay Informed About Money Mule Schemes
The CAFC and OPP will host a live chat on June 8, 2022, at 10:00 AM, discussing money mules, associated frauds, and providing valuable insights. Guest speakers include:
- Nancy Cahill, Intelligence Researcher/Profiler
- Acting Detective Sergeant John Armit from the CAFC
- Other fraud prevention experts
To participate, join the conversation using the following hashtags: #DontBeAMule, #kNOwFraud, #Take5, and #Tell2.
Reporting Frauds and Cybercrimes
In the event of a scam, fraud, or cybercrime, contact your local police and report incidents to the CAFC online reporting system or by phone at 1-888-495-8501. Stay informed and empowered to safeguard yourself from financial crimes.