Switched has a new home! Huffpost Tech.

Click here to visit the new home of Switched!

Hot on HuffPost Tech:

See More Stories
AOL Tech

Bad Economy Good for Online Scammers

by Terrence O'Brien on December 11, 2008 at 07:05 AM


The worsening economy hasn't been doom and gloom for every industry -- Internet scammers have had a much easier time picking off prey and enlisting virtual "mules" to launder their ill-gotten funds.

The money laundering scams aren't new, but David Marcus, directory of security research and communications at McAfee Inc, tells the AP that people struggling with finances and potential unemployment are more willing to believe the promises of easy money touted by spam messages. The scammers send out shady e-mails that often promise work-from-home positions such as "shipping manager" and "sales representative." Once the hooks are in, the crooks convince the mule to open a bank account, accept anonymous payments, and then forward the money to other accounts often overseas (along the way, scammers take out a significant cut for themselves).

Internet security company McAfee reported a 33-percent rise in the number of mule recruitment sites in the first half of 2008, over 2007. A good spam filter will make sure you never see these messages, but as usual, the best defense is a little common sense. If you get an unexpected e-mail offering a too-good-to-be-true job that lets you work from home, chances are it's a scam. [From: AOL Money and Finance]

Tags: economy, money laundering, MoneyLaundering, mule, safety, scam, security, spam

HuffPost AOL Social News Most Popular