Individuals who hand over their bank cards to fraudsters may have all their bank accounts blocked. They may also face criminal prosecution for acting as so-called money mules. This is according to the Prosecutor General’s Office of Kazakhstan. It has been reported by the agency that thousands of people in Kazakhstan may be involved in such financial crimes.
The Prosecutor General’s Office has identified more than 50,000 individuals in the country involved in online fraud. It has also linked many of them to drug trafficking. Law enforcement has already identified over 6,000 so-called money mules. Officials believe the actual number may be significantly higher.
A money mule mainly refers to a person who uses their bank card or account to cash out stolen money in financial fraud schemes. Typically, when a fraudster convinces a victim to transfer funds, they give the account of money mule and not their own. This tactic helps perpetrators escape law enforcement, and often succeeds. While others may take part unwittingly, becoming a money mule is alarmingly easy: some individuals do it for profit. Prosecutors said that either way, it constitutes a crime, as well as the government intends to pursue it aggressively.
As of now, the Senate, the upper house of Kazakhstan’s parliament review a bill that would introduce criminal liability for transferring bank cards to third parties for payment.
Possible penalties for money mules include blocking all bank accounts linked to fraudulent activity. They may also be added to a registry of suspicious individuals and face restrictions on access to financial services. In addition, they could face criminal prosecution, with potential imprisonment of up to seven years.
Authorities may also apply these penalties to foreign nationals who allow others to use their bank accounts in fraudulent schemes.
Authorities urge anyone who may have unknowingly handed over their account or card to act quickly. They should contact their bank immediately or block the card using the bank’s mobile app.
