How to Find “Money Mules” with Machine Learning Fraud Detection Software

As more financial institutions are cracking down on fraud, criminals are turning to more creative measures to conduct illicit transactions and other activities. One common method on the rise is using so-called “money mules” to help facilitate transactions in hopes of keeping their money movements under the radar.

COVID-19 has further increased the demand for money mules as crime never takes a holiday, even during a crisis.

In response, financial institutions should explore the advantages of machine learning fraud detection software that can help identify potential money mule activity.