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What's needed to fight rising threat of money mules
Business Standard
|April 21, 2025
Imagine you are sipping a cup of tea and scrolling your phone, when a message pops up. "Earn easy money from home! No experience needed. Just help process payments," it says. It's a tempting offer but it is likely a ruse to recruit money mules.
Money mules are people who unwittingly help criminals move illegal funds, or are intentionally lured by friends or accomplices to make a quick buck. This phenomenon is growing globally and it has grabbed the attention of governments, regulators and banks.
India has seen a surge in digital payments, with services like Unified Payments Interface clocking over 16 billion transactions monthly. But with the ease and speed of digital services, risks have increased as well.
Dit verhaal komt uit de April 21, 2025-editie van Business Standard.
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