Stop cashing in for crooks: Australians urged not to rent or sell bank accounts for cash

This is a joint media release between the Australian Federal Police and the Australian Banking Association.

Australian money mules renting out their bank accounts to criminals for as little as $200 are in the crosshairs of the AFP and the Australian Banking Association.

Police and banks have stepped up their efforts to curb this criminality, and Australians have been urged not to rent their bank accounts to third parties or share their banking details with anyone.

The warning comes as criminal networks looking for ways to launder illicit money derived from illegal activity are increasingly turning to money mules for assistance.

Money mules are individuals who are – knowingly or unknowingly – recruited by criminal syndicates to transfer illicit money in and out of their personal accounts to make the funds appear legitimate to authorities. Money mules may also rent or sell their account for a payment.

This routing of money through a legitimate Australian bank account obfuscates the flow of the dirty cash, making it difficult to track. The mules are paid anywhere from $200 to $500 for the use of their personal accounts and may receive a commission on funds received into their accounts (typically about 10 per cent).*

Criminals target potential money mules through social media, messaging or gaming platforms, chat forums, online advertisements and even in face-to-face meetings.

Individuals may be recruited through:

• Employment scams – these are designed to exploit job seekers by offering what seems like quick and easy money for little work. Applicants are asked to have an Australian bank account to transfer funds and are promised a commission for their work.
• Threat scams – scammers contact victims threatening criminal charges and arrest unless they transfer and receive funds.
• Romance scams – scammers build a relationship online and then request the victim to transfer money to other accounts, typically overseas, using their personal bank account.

Criminal networks are also increasingly instructing money mules to move funds through cryptocurrency exchanges/ATMs (CATM) and global money transfers apps, as these platforms enable faster and more discreet transfers than traditional banking institutions.

In these instances, money mules are instructed to withdraw physical cash from their account and deposit it into a CATM, where the money is sent to a digital wallet controlled by the criminal.

According to Scamwatch, $141.7 million was lost to scammers via bank transfers last year.

Money laundering is a serious criminal offence with charges carrying a maximum penalty of life imprisonment in Australia.

In April, 2025, a Sydney woman was jailed for renting 10 bank accounts to a Vietnamese money laundering syndicate. These accounts were used to launder $3.8 million in proceeds of crime, which were ultimately transferred overseas.

AFP Detective Superintendent Marie Andersson said money laundering was an integral part of organised crime and enabled criminals to legitimise their illicit profits and bankroll future illegal activity.

“It is illegal to rent, buy or sell bank accounts, and doing so supports the criminal ecosystem,” Det-Supt Andersson said.

“Your account may be housing money derived from scams, extortion, drug trafficking and terrorism.

“If a criminal has access to your bank accounts and personal details, they may use this information to commit other crimes, potentially implicating you in their illegal activities.

“The AFP-led Joint Policing Cybercrime Coordination Centre (JPC3) works closely with financial institutions and law enforcement partners every day to target this activity and shut down accounts linked to money mule activity.”

ABA CEO Anna Bligh said mule accounts were a key part of a scammer’s business model and banks were focused on identifying, investigating and shutting them down.

“Using mule accounts to hide and move stolen money around is a key tactic in a criminal’s playbook,” Ms Bligh said.

“Renting or selling your bank account may seem harmless, but you may be unwittingly helping a scammer to rip-off a family member or someone else you know.

“Don’t let criminals cash in on your bank account.

“I urge Australians to steer clear if you’ve seen an advertisement or are approached to rent or sell your bank account. There’s a good chance you’re being recruited to hide the profits of criminal activity.”

*AUSTRAC Financial Crime Guide June 2024

Protect yourself from falling victim:

• Don’t share banking and personal details with anyone you don’t know or trust.
• If someone asks to use or ‘borrow’ your bank account, say ‘no.’
• If you suspect something is not right, reject the offer.
• Specific to job scams:
  • Research the legitimacy of job offers by contacting companies directly using official contact information.
  • Be cautious of jobs with vague responsibilities or unrealistic salaries.
  • Legitimate employers never ask for money upfront.
  • Don’t engage with online posts offering large sums of money.

What to do if you’re a victim:

• Stop all communication with the scammer.
• Contact your financial institution if you have transferred money or suspect unusual account activity.
• Report it to police using Report Cyber.
• Report suspected scams to ScamWatch to help others avoid similar scams.
• If you were contacted via social media, report it to the social media platform.
• Use strong, unique passphrases on your accounts and enable Multi-Factor Authentication wherever possible.
• If you are concerned your identity has been compromised, contact the national identity and cyber support service IDCARE.
• If you, or someone you know, needs help, contact Lifeline on 13 11 14 or Beyond Blue on 1300 224 636. They provide 24/7 support services.

About the JPC3:

The JPC3 brings together Australian law enforcement and key industry and international partners to fight cybercrime and prevent harm and financial loss to the Australian community.

We are committed to equipping all Australians with the knowledge and resources to protect themselves against cybercrime.

Watch our cybercrime prevention videos and protect yourself from being a victim of cybercrime.

If there is an immediate threat to life or risk of harm, call 000.

If you are a victim of cybercrime, report it to police using Report Cyber.