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Published: May 16, 2024 4 min read
Photo Collage of a keyboard and a computer mouse surrounded by dollar bills and crypto coins
Money; Getty Images; Shutterstock

As young people go out looking for work this summer, government agencies want them to be aware of the risks of “money mule” fraud schemes.

Money mules are people who are used to transfer stolen money for another person or a group. The government is particularly worried about students and other people looking for online remote work potentially being involved, often without the knowledge a crime is happening.

In a consumer advisory warning, the Commodity Futures Trading Commission (CFTC) said these scams “involve individuals sending and receiving money into their bank accounts, digital wallets, or spot-market crypto trading accounts as part of their job duties or at the direction of others.”