“Red flags” - Episode 3: “Money mules: The scam that turns victims into accomplices”

How big of a problem is money muling here in Luxembourg? Is this happening every day? Is it somewhat rare? What, what-- How, how can you quantify this for us?

It's hard to say if it's daily or it's, um, it's increasing.

Increased since, uh, D-December 2022.

So, uh, modern techniques, uh, social media is increasing.

Uh, new techniques, the scams, they are m- The world is more digital, so, um, there are more cyber crimes.

And, uh, to launder the money from the cyber crimes offenses, like the phishing, uh, love scams, uh, you have to use a money mule.

But since, uh, th-this period, um, there are many money mules in Luxembourg.

Uh, Luxembourg residents were used as money mules, which was, uh, new.

Beforehand it was, uh, was not so common that Luxembourgish people were used as a money mule.

Um, Luxembourg is also interesting for the criminals because, uh, in Luxembourg it's, uh, more common than maybe our neighborhood's countries, uh, to, uh, make cash withdrawals on y- on your account.

The n- n- the amount is higher for a normal person in Luxembourg than, uh, in our neighborhood countries.

[lips smack] Right.

Okay.

And, uh, maybe also Luxembourg is interesting because there's already a lot of international financial links.

There's people here, living here from, you know, all over the world.

So maybe it, it doesn't seem suspicious that someone is, uh, making a transfer to, you know, a country on the other side of Europe or in Asia or something.

Is, is that, you know, uh, another reason why Luxembourg might be an interesting hub for money muling?

I, I think not because of, uh, the transactions on the bank accounts.

They are from every country very fast.

So even if the border is, uh, very far away, uh, one click and, uh, money has gone.

So I don't think that, that Luxembourg is more interesting than other countries, uh, on that point of view.

Okay.

So it's, it's, everything is electronic and global anyway, so.