Money transfer scam (source:FSA)

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Simply receiving a payment into your bank account, withdrawing the cash then sending it abroad by other means, might seem like an easy way to make as much as 20% commission. But you are likely to be helping criminals launder money. Find out how to avoid getting involved in this scam.

An offer to transfer money for someone is likely to be a scam and could lead to you laundering money for criminals, which is a serious criminal offence.

Money laundering involves disguising where money came from and is usually done to make it seem like the proceeds of crime came from a legal source. One of the many ways to do this is to put money through a series of bank accounts.

REMEMBER: IF IT SOUNDS TOO GOOD TO BE TRUE, IT PROBABLY IS!

How it works

You may be contacted by email, a letter or phone call, or even see an ad in a newspaper or on a website, offering a commission on what seems like simple work with little risk.

Often the fraudsters target people on low incomes, such as students or people who have their details listed on recruitment websites or in chat rooms. It might also be pitched like an opportunity to work from home, where you are an ‘account manager’ or ‘transfer manager’.

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