Don’t be a Victim of Money Laundering Scams!

Desperately seeking employment? Watch out – job scams are everywhere and are the root of many job seekers’ heartache.

As one of the most common online job scams, money laundering scams target unsuspecting job seekers by posting jobs online or sending emails stating they are looking for employees. The job role is money orientated; you will be required to process payments or transfer funds, all in return for a small percentage of the transferred amount.

Sound easy enough? Think again...

The situation is the same for many a desperate job seeker. You’ve just been laid off from your job and are now desperate to find new work. As the Christmas season looms closer and closer, the pressure to find employment couldn’t be greater, and with the mounting bills and expenses you need to keep up with, you’re willing to take whatever comes your way.

How do money laundering scams work?

Scammers adopt a range of tactics to target desperate and vulnerable job seekers. Whether by sending an email or writing a job advertisement, they explain how they are from a foreign country and unable to transfer the funds independently.

Once the victim is enticed the scammer will then ask for his/her personal bank account details, in order to move the funds (which are either stolen or bad checks), and have you keep hold of a small percentage of the money for yourself.

Implications of getting involved in money laundering scams  

By getting involved in a money laundering scam, you will be placing laundered money into your bank account, which could result in arrest for committing a theft or engaging in fraudulent activity. Other scammers will use your bank account details to access your account and remove your funds.

Avoiding money laundering scams

Before applying for any job vacancy, it is crucial that you research the position thoroughly. No legitimate company has a right to ask you to transfer funds before meeting you in person, conducting a job interview, performing a background check and asking you to sign a contract. In addition you should never be asked to provide your personal bank details.