If someone asks you to lend him/her your bank account, debit card and PIN number for a fee, or offer to transfer money to your bank account, ask you to transfer a certain amount to another account, and then asks you to keep the rest as payment, please do not take part in such activity. This type of activity is a money laundering scam, used by criminals to trick people into unknowingly taking part in a crime that can land them in jail.
How the Money Laundering Scam Works?
In order to transfer their illegally gained money, criminals have realized that they can use hundreds of people to transfer small portions of the vast amount of illegally gained money they have accumulated, which will not be suspicious to the bank, or keep their illegal transfer of money under the bank's fraud radar.
In these hard economic times, people will quickly accept money from anyone, especially when it is easy money, and they are not educated or have any knowledge of these scams, which will make a lot of them victims of these money laundering scams.
Now, here is another deceptive technique used by criminals to trick their victims into taking part in their money laundering activities. They(criminals) will call their potential victims claiming that they are from the potential vicitm's bank or some organizations that the potential victim does business with, and falsely tells their potential victim that a refund will be sent to his/her bank account. The crimininals will then send the money to the victim's bank account and call the victim back claiming that they have accidentally sent too much money and ask the victim to send the overpaid amount to another bank account.
If the victim follows the criminals' instructions and sent the money to the account that he/she was told, he/she is only helping the criminals launder money.usually, the criminals obtain their potential victims' account and personal information using phishing scams.
If you think you are a victim of such fraud, please contact your bank immediately. Do not let the bank detect the fraud and report it to the police before you, because this will get you arrested for something that you were tricked into and unknowingly took part in.