A new financial crime guide can help businesses understand and identify criminal networks seeking to exploit vulnerable foreign students to launder money, using them as so-called ‘money mules’. 

The guide has been developed by Fintel Alliance in partnership with the Australian Federal Police and Australian Border Force.

About money mules

A money mule is someone who transfers or moves illegally-acquired money on behalf of someone else. Doing this creates distance between the criminal networks and the crime, making it harder to follow the money trail.

Money mules can move funds in various ways, whether it be through bank accounts, physical cash, cashier’s cheques, digital currency, prepaid debit cards, or remittance service providers. 

Criminal networks primarily target international students and non-permanent residents, offering them a way to make money while living in Australia. They recruit them face-to-face or online to launder their proceeds of crime.

Read the financial crime guide – Combating the exploitation of international students as money mules 

This guide aims to help government agencies and financial service providers understand and identify signs of criminal networks using vulnerable people as money mules.

How can I help?

Financial service providers can use the behavioural and financial indicators in this guide to help identify, target and disrupt transactions linked to money mules. 

If you see a combination of these indicators or observe other activity that raises suspicion, consider submitting an SMR to AUSTRAC. Industry reporting helps us and our law enforcement partners take action and protect victims and the broader community.