Money Laundering & Online Scams

March 16, 2013 |  by  |  Linkedin Blog, Security

Money Laundering

The Scam:              Money Laundering.

The Way In:          Dulwich Picture Gallery, (this is just one of many scams using a legitimate company as a victim hook.)

Premise:                Job Offer.

The Hook:              Greed. Big money offered for little effort.

Scam Variant:       This is a variant of a Nigerian financial scam.

Red Flag 1:            They ask you for your full bank details when you are only at the job application stage.

Red Flag 2:            The Dulwich Picture Gallery was actually founded in 1811. It does not import materials or sell pictures.

Red Flag 3:            The Dulwich Picture Gallery advertises all job vacancies in the conventional way and does not send out unsolicited e-mails offering jobs to people or asking anyone for the bank or financial details.

Background:          You receive a very plausible e-mail offering you a well paid job. i.e. from the Dulwich Picture Gallery London, UK. The e-mail initially outlines the credibility of the Picture Gallery and that is a long term legitimate business founded in 1958. It imports art related materials and sells works of art internationally.

You are offered a job which includes a hook designed to appeal to your greed on the following basis. You will manage your own client accounts which requires clients to pay money directly into your personal bank account. You are offered anything from 10% to 20% of these fees providing you transfer the balance in cash and transfer it through a nominated Western Union cash transfer office.

Red Flag 4:            This is a bogus e-mail cyber scam. If you take up the alleged job offer then funds will be transferred into your bank account. You retain say 15% and withdraw the other 85% in cash and then transfer it via Western Union.

Welcome to the world of organised crime and money laundering. Although organised crime lords can easily hack into unsuspecting customers bank accounts they would leave law enforcement a bread crumb trail if they placed this money in their own bank accounts. They need unsuspecting victims with legitimate bank accounts to wash the money through.

Once the 85% balance has been cash transferred, it emerges as clean money with no trace back to the crime gangs.

Red Flag 5:            You are what’s known in the security industry as a ‘Money Mule.’ The ramifications for you are as serious as a ‘Drug Mule.’ The only trace of this money will be through you and your bank account.

Given the severity of money laundering by organised criminals and proactive terrorists the Serious Organised Crime Agency (SOCA) will soon be breaking down your door to arrest you. Ignorance is no plea. You will be prosecuted; you are likely to have to repay all the funds which were placed in your bank account. Your bank account/s will be frozen and you will be subjected to a rigorous and extremely intrusive criminal investigation.

Organised criminals and terrorists understand this is a numbers game. They require lots of these ‘Money Mules’ to keep the flow of dirty money moving through legitimate bank accounts to launder it. They will milk you until your bank account is flagged as conducting unusual activities. No trace can ever be made back to them. They will simply move on to the next victim and then the next before their bank accounts are frozen.

These scams are perpetrated by professional criminals and terrorist organisations and usually land in a business person’e e-mail in-tray in a format like the following…

Assalamalekum,

I am HRH. prince Alwaleed Bin Talal, chairman and founder of the KINGDOM HOLDING COMPANY KHC SAUDI ARABIA. I want to investigate the possibility and preferential Conditions/gains of investing some of my available funds into your company/projects as a foreign company.

I will be interested to invest and partner in a business in line with my company’s mission statement for expansion in virtually all profitable business with assurance that the security of my funds will be there with ROI of at least 10% per annum.

Depending on your business plan, proposals and professionalism I can invest as much as any required funds for a start.

May Allah bless you. HRh. Prince Alwaleed Bin Talal. Founder/ Chairman of KHC  Kingdom Holding Company
www.kingdom.net alwaleed@omarbins.com

Alternatively it can appear as a job offer like the following…

 

Job Offer for you. Please respond
By your host: Frank Khan Andrews
Message: Dear Sir/Madam,You have been selected for an assignment as a Mystery Shopper. You will earn $300 or more weekly been a mystery shopper. Your employment packet will include funds for the shopping, a training assignment which will be sent to you after you receive payment for the assignment.Please get back to me on the email addresses below so that I can give you details.
Thank You,

Frank K. Andrews
Email:frank_kandrews@yahoo.co.uk
frank_kandrews@azet.sk

Date: Thursday 26 November 2013
Time: All Day  (GMT +00:00)

 

The following is a third example of an E-mail which is sent to tens of thousands of business owners…

DEAR FRIEND,GREETINGS FROM MY OWN SIDE.I AM MRS.SARAH BOUYAIN,A WIDOW TO LATE YAOGO BOUYAIN.I AM 52 YEARS OLD,SUFFERING FROM PANCREATIC CANCER.MY CONDITION IS REALLY BAD AND IT IS QUITE OBVIOUS THAT I WON’T LIVE MORE THAN SIX MONTHS ACCORDING TO MY DOCTORS.I AM WILLING TO DONATE THE SUM OF 5,000,000US DOLLARS FOR YOU TO HELP WIDOWS AND THE LESS PRIVILILEGED ONES IN THE RURAL AREAS AND TO CARRY OUT OTHER CHARITY WORKS.I WAIT YOUR URGENT REPLY TO PROCEED.MRS.SARAH BOUYAIN.

You don’t require a PHD in security management to identify fake or bogus fraudulent Internet scams. Usually you just need to follow your gut reaction. Remove all trace of greed and remember the following: If it walks like a duck, and quacks like a duck then guess what? It’s usually a duck.

Never respond or forward these types of e-mails, just flag them as spam and delete them.

And if you think you would never be conned into responding to e-mails like these then let me tell you neither did several of my security clients who were enticed by greed and ended up losing lots of their finances because their halo’s slipped and they got greedy.

Visit www.elinked.eu for further business networking & support for members of the legal profession.

To consult with security professionals visit: www.securityexpert.biz

Dr. Mark D. Yates

Dr. Mark D. Yates is a global #1 LinkedIn consultancy business growth specialist, LinkedIn speaker, LinkedIn Sign & LinkedIn training instructor & CEO of Link Business Marketing Ltd. If you need to hire a LinkedIn expert to help you gain profitable business growth, contact him. Tel: UK 0203 390 2013 Email: drmarkdyates@aol.com, connect with him on LinkedIn & Twitter You can view & download his dynamic independent LinkedIn training program at: linkedinswat.co.uk.

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