SEcurity

Money Mule Scams

Criminals often try to hide the illegal origins of their funds by involving unsuspecting individuals as “money mules” to transfer and launder their money for them. If someone you don’t know requests that you transfer money from them to another party, you might unwittingly be acting as a money mule. Scammers may reach out to you online or through direct calls, but their goal will be the same. To try and trick you into moving money for them in a way that doesn’t alert law enforcement.

Avoid letting others use your bank account or refuse them if they ask you to open one for their transactions. Even if they compensate you, the risks to your financial security and legal standing are not worth it. Doing so may lead to severe consequences.

Tips For Avoiding Money Mule Scams

Who Do Scammers Target?

Scammers tend to target a wide range of individuals, including; elders, students, millennials, job seekers, and users on dating websites.

How Do I Prevent Becoming a Money Mule?

  • Be cautious of unexpected messages offering quick money without much effort.
  • Avoid sharing your financial information or providing bank account access to strangers.
  • Do not use your personal bank account to transfer funds on the behalf of others.
  • Before accepting a job offer, verify the credibility of the company by conducting thorough research and requesting a copy of their business license in your state.
  • Never send money to an online romantic partner, even if they send you a check beforehand.
  • Beware of requests to transfer or receive funds from individuals pretending to be overseas.
  • Don’t buy digital currency or gift cards for someone you just met.

If you’re a victim of fraud or think you’ve been scammed

  1. Stop all communication with the fraudsters immediately. Do not engage or transfer any further funds to them.
  2. Notify your bank, wire transfer company, gift card provider, or payment provider immediately.
  3. Report the fraudulent activity to the FBI’s Internet Crime Complaint Center (IC3).

Other Scams You Should Look Out For

Stay informed and stay safe! Scammers keep evolving their tactics, so it’s important to stay up-to-date on the latest scams in order to protect yourself and your loved ones.

Text Message Scams

Text Message Scams

Scammers that use fake text messages to deceive you into sharing personal information such as passwords, account numbers, or Social Security numbers.

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BEC Scams

BEC Scams

Business Email Compromise (BEC) fraud includes various scams resulting from fake emails, including fraudulent payments.

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Check Scams
attach_money

Check Scams

Check scams often start with a stranger asking you to deposit a check for them, sometimes for several thousand dollars. They may even ask you to send some of the money back or to another person.

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Mail Theft

Mail Theft

Mail theft generally refers to the fraudulent negotiation of checks stolen from the U.S. Mail. Once stolen, these criminals may attempt to alter or “wash” the checks.

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Payment App Scams

Payment App Scams

A scam that attempts to trick you into sending someone money through a mobile payment app. Once this is done, it’s very difficult to get your money back.

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Phone Call Scams

Phone Call Scams

Scammers that try to steal your money or personal information by pretending to be someone they’re not. May come through phone calls from real people or robocalls.

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Zelle Scams

Zelle® Scams

Scammers may attempt to trick you into sending them money through Zelle®. Like other payment app scams, your money will be very difficult to get back.

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Money Mule Scams

Money Mule Scams

Criminals try to hide the illegal origins of their funds by involving unsuspecting individuals as “money mules” to do transactions to obscure the source.

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Debit Card Fraud

Debit Card Fraud

Scammers obtain and use your debit card info to make purchases or convince you to use your debit card to make purchases for them.

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Fraud Prevention Solutions

Your security is our top priority. That’s why Dime offers fraud prevention solutions that can help you identify, report, and prevent fraud.

Check
Positive Pay

Check-based fraud prevention by matches checks presented for payment against a list of checks issued by your business.

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ACH
Positive Pay

Prevent fraud related to ACH transactions by using our system, which enables your business to monitor and manage such transactions. You can use filters and blocks to ensure that all ACH transactions posted in your account are legitimate.

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Debit Card
Security

Protection from identity theft and unauthorized spend.

• ID theft protection*

• Zero liability protection**

• Fraud monitoring text alerts

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Savvy
Money

The first step toward improving your credit is understanding your credit. That’s why Dime online banking includes Savvy Money. A service that helps users access their rating, learn the factors most impacting it, and how to improve it.

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* Terms, conditions, limitations and in some cases enrollments are applicable – please see the Mastercard Guide to Benefits for Debit Cardholders.

** You’re not responsible for unauthorized transactions that you promptly report to us if you have taken ordinary care of your card and PIN.