Jan 25 2011

Cisco Security Report Says Unemployed Are Targeted By Money Mules

Category: CybercrimeDISC @ 5:26 pm

By Samuel Rubenfeld

Add another burden to being unemployed: Those seeking work are increasingly targeted by money mules for laundering operations.

The “Cisco 2010 Annual Security Report,” (pdf) released Thursday, says that alongside ongoing threats from phishing attempts, viruses, trojans and more, the unemployed–or the underemployed–may become unsuspecting conduits for money laundering. This can happen through “work-from-home” scams where a person’s “job” is to receive items, repackage them and ship them abroad, not knowing that the items were obtained illegally using stolen or fraudulent credit cards that further the money laundering operation.

“People scouring employment ads on legitimate, well-known job search sites also have been duped by these scams,” the report says, later adding: “Individuals who come in contact with these operations usually have no idea they are being recruited as money mules, and believe they are dealing with a recruiter for a legitimate company.”

Titles below explain how money laundering works…

Tags: money laundering, money mules

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