Money mule

A money mule is a person or account used to receive and move the proceeds of fraud, often by passing funds to another account or person. Lenders and banks may review the person or account as one signal when assessing an application or transaction.

Example

For illustration, a fraudster persuades Alex to receive $2,000 into Alex’s account and send $1,800 to another account. That use of Alex’s account fits the term money mule; it is a reason to investigate, not proof by itself that Alex knowingly participated in fraud.

On Decisimo’s fraud decisioning, a lender can match each application detail against its own confirmed-fraud list and apply rules to the number of matches on one record.