PETALING JAYA: A mule account is a personal bank account used to collect the gains from illicit activities for criminals, says Prof Dr Mohamed Ridza Wahiddin.
The founder and patron of International Islamic University Malaysia’s Centre of Excellence for Cyber Security said accounts involved in laundering the proceeds of crime through the financial system are defined as mule accounts.
He said those facing financial problems are more susceptible to being enticed into “lending” their accounts.
“The usual targets for mule account holders are the youth, the elderly and the unemployed,” he said when contacted.
Bukit Aman Commercial Crime Investigation director Comm Datuk Seri Ramli Mohamed Yoosuf previously warned that those who are caught allowing others to use their bank accounts for illegal activities not only have to face legal repercussions but also risk having their accounts impounded or frozen.
