• Question

      Which is true about money muling?

      i. Non-adherence to KYC guidelines by bank officials

      ii.Conversion of foreign currency into local currency at non-authorised dealers

      iii. Innocent people are victimised by fraudsters into money laundering

      A Only i Correct Answer Incorrect Answer
      B Only i & ii Correct Answer Incorrect Answer
      C Only i & iii Correct Answer Incorrect Answer
      D Only iii Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Money mule is a term used to describe innocent victims who are duped by fraudsters for laundering illegal money via their accounts. The money mule become the target of the investigative agencies and police whether s/he is responsible for it or not.

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