CryptoMediaClub
Saturday, July 19, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

CFTC Urges Caution to Job Seekers Amid Rising Money Mule Scams

14.05.2024
A A
0
127
VIEWS
ShareShare

The Commodity Futures Trading Commission (CFTC) is warning against “money mule” scams targeting remote job seekers.

On Monday, the regulator said people seeking work-from-home opportunities should be on the lookout for these deceptive schemes.

According to Melanie Devoe, director at the Office of Customer Education and Outreach (OCEO), summer job seekers, drawn to part-time online work, could be especially vulnerable to scams. However, they end up risking jail time as unwitting money mules for criminals, she said.

Work-From-Home Scam Turns into Money Laundering Nightmare

Criminal organizations are actively recruiting networks of people to launder money, according to the CFTC. They move illegal funds between bank accounts, converting currencies, and using blockchains to avoid law enforcement detection.

The criminals often target unsuspecting people who might not realize they’re involved in a crime. These victims may believe they’re helping a friend, a romantic interest, or simply fulfilling work duties. However, both willing and unwitting participants face the same consequences, which can include criminal charges.

The CFTC cracked down on money mule activity in two recent cases. In one instance, the CFTC accused Debiex of using well-known romance scam tactics to steal $2.3m in customer funds meant for digital asset trading.

Another enforcement action involved a California man and his company. They were charged with running a complex romance scam, also known as a “pig butchering scheme” that defrauded dozens of investors for over $1m.

Protect Yourself from Crypto Money Laundering with These Red Flags

The CFTC warned potential victims to be wary of two main red flags: “off-ramping” and “on-ramping” crypto-assets. With off-ramping, criminals might send you crypto and ask you to convert it to dollars, moving the cash through your bank account to another, essentially laundering their money.

On the other hand, on-ramping could involve criminals giving you cash to buy crypto (like at a bitcoin kiosk) and then forwarding it to another walle, again, using you to get their money into the crypto system. A third tactic, “smurfing,” involves receiving a large amount of crypto yourself, which could raise suspicion.

The post CFTC Urges Caution to Job Seekers Amid Rising Money Mule Scams appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana
All news

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana

19.07.2025
0

Bitcoin ($BTC), the unrivalled frontrunner in the crypto sector, is now trading a mere 2.8% below its record price peak...

Read moreDetails
Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

18.07.2025
GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

18.07.2025
The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

18.07.2025
XRP, BTC Holders Turn to APT Miner for Stable Investing

XRP, BTC Holders Turn to APT Miner for Stable Investing

18.07.2025
Load More
Next Post
Dogecoin Price Prediction as DOGE Bounces 4.5% in a Day – What’s Causing the Pump?

Dogecoin Price Prediction as DOGE Bounces 4.5% in a Day – What’s Causing the Pump?

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Conflux Network and World Mobile Collaborate To Boost Blockchain-Based Mobile Access

Conflux Network and World Mobile Collaborate To Boost Blockchain-Based Mobile Access

2 years ago
Top Crypto Gainers Today on DEXScreener – BRIDGEBLOCK, RB, LANDWOLF

Top Crypto Gainers Today on DEXScreener – BRIDGEBLOCK, RB, LANDWOLF

1 year ago
Banks bullish on crypto: Standard Chartered’s Zodia raises $36M

Banks bullish on crypto: Standard Chartered’s Zodia raises $36M

2 years ago
Coca-Cola Launches ‘Masterpiece’ NFT Collection on Coinbase’s Base

Coca-Cola Launches ‘Masterpiece’ NFT Collection on Coinbase’s Base

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

XRP, BTC Holders Turn to APT Miner for Stable Investing

Thailand Launches National Crypto Sandbox for Tourists

Pepe Price Prediction: Is PEPE Going To Follow XRP And Hit a New ATH In July 2025?

More Than Third of Users Already Use Crypto for Everyday Payments

Trending

Ethereum attracts record ETF inflows and 39% fee drop in Q2, supporting stronger outlook for Q3
Analysis

Ethereum attracts record ETF inflows and 39% fee drop in Q2, supporting stronger outlook for Q3

19.07.2025
0

Ethereum (ETH) registered significant improvements in the second quarter, including increased inflows of exchange-traded funds (ETFs), layer-2...

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana

19.07.2025
Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

18.07.2025
GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

18.07.2025
The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

18.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz