With all the fraud and cybercrime unfortunately happening today, one harmless-looking act is transferring money between bank accounts for someone else. While it seems like such a transaction doesn’t break any rules, if you participate in it, you may unwittingly become an illegal money mule for cybercriminals and fraudsters.
A money mule is someone who moves illegally acquired money on behalf of other people, in exchange for a small commission or fee. This is actually a crime prohibited by Republic Act 9160, or the Anti-Money Laundering Act of 2001. If you get caught being a money mule, you can get up to seven years of jail time and a fine of up to P3 million—all for receiving and transferring money in your bank account!
