HSBC is alerting customers about a serious scam in which fraudsters con people into being “money mules.” They promise quick cash to victims who become unwitting criminals. In this apparently innocuous act, transferring money can result in a criminal record or even 14 years behind bars. So be on your guard and protect yourself!

Imagine you get offered that seems almost too good to be true. For a pretty penny, you would only have to help in moving certain funds through the account. Nothing life-threating, right? Well, HSBC, one of the planet’s biggest banks, says that this “harmless” request by someone might actually land you in hot bark and have you land even 14 years behind bars.

What’s a “Money Mule,” and Why Do You Care About Them?

They are people who allow their bank accounts to be used by others to take and move money. The majority of them do not even know that now they have entered into the business of money launderers—such huge revenues are made on criminal activities. This whole process effectively conceals the trail of the money. The people behind these scams often engage in some unsavory activities, like drug trafficking, human trafficking, or even terrorism. By moving such funds, you could be an unwitting part of their criminal enterprise.

How The Scam Works

Scammers are clever; they’ve got a way of identifying those who can be lured by the promise of a quick buck. While some of them are known to use text messages, HSBC with the National Crime Agency associates the said fraudsters with using Instagram and Snapchat to pick their prey. They target people urgently in need of money: students, people with financial problems, or any individual willing to earn a quick penny without asking too many questions.

It generally gets started with a friendly message that feigns to share your interests, or the scammer might even take time to build up some kind of friendship with you. In due course, the offer is dropped: “Hey, can you help me out by moving some money? You’ll get a nice cut of it for your trouble.” It may seem very innocent, particularly when you’re just clicking some buttons on your phone, but what you do is already illegal.

The Serious Consequences

Apprehension by everyone is required to make sure everyone is seized with how drastic this is. Being a money mule carries severe risks with it. Lots of these consequences are very serious. If you get caught, you are not just looking at a slap on the wrist. You could get a criminal record for life. Worse, you could go to prison for as long as 14 years.

And it doesn’t matter if you didn’t know the money was linked to crime. Ignorance is not a defense in these cases. The law sees it as your responsibility to know where the money you’re moving is coming from. If you didn’t check, that’s on you.

How to Protect Yourself

HSBC has a bit of advice on keeping safe and keeping yourself out of trouble. First, do not open a bank account in your name for someone else to use. If someone would like you to make or accept a payment on their behalf, think twice. Why wouldn’t they be able to do it themselves? What are they hiding?

The bank also warns that these fake profiles will use social media to give them some credibility. They may act like they’re into the same hobbies or interests exactly like you in the guise of being friends. But their ulterior motives are to have you do their dirty work.

Don’t Be Afraid to Say “No”

Remember that you are within your rights to say no to these requests. Something doesn’t seem right? It probably isn’t. Don’t allow anyone to pressure you to make decisions that could potentially ruin everything you could ever have in the near future for you. Saying no could save you a world of trouble.

If ever you find yourself in a situation where someone is asking you to move money for them, it’s important to stop and think: Would I carry a bag of cash for some stranger in real life? If the answer is no, then you shouldn’t do it online either.

What to Do If You’re Targeted

Don’t keep it quiet if you believe you have fallen prey to a money mule scam. Contact the police and report the case immediately. The sooner you do it, the greater the chances that, thank God, nothing drastic will happen to you. Also, with reporting, you will be decreasing the risk of other people falling into the same trap.

HSBC and other banks have an extent of awareness brought to them, but all the same, at the end of the day, it remains a personal responsibility to be vigilant. Their tricks always seem to ‘upgrade,’ so become knowledgeable of any new cons and remain very careful with your fiscal activitiestaking place.

Online, however, it is rather easy to be detached from the realities of the life consequences. It might seem that dealing with someone else’s money is a quick way of earning additional bucks, but it sure is not worth the risk. With these seemingly no-harm-deal possibilities still out there, you can protect yourself from being the next victim by just spending a second thought before falling for them. Remember, if it’s too good to be true, it probably is.