Hyderabad: The Reserve Bank of India (RBI) has issued a Money mule warning, cautioning people against allowing others to use their bank accounts for transferring funds.
In a public awareness message, the RBI said a money mule is a person who transfers or moves illegally acquired money on behalf of another individual.
The central bank warned that people could face serious legal consequences if they knowingly or unknowingly participate in such activities.
Money mule warning highlights legal risks
The RBI advised citizens never to allow anyone to receive or transfer money through their bank accounts.
It said fraudsters often lure people with promises of quick and easy earnings in exchange for using their accounts.
However, such transactions may involve illegally obtained funds and could expose account holders to criminal liability.
The central bank stressed that easy money offers often conceal serious financial and legal risks.
According to the RBI, individuals should immediately reject any proposal that involves using their bank account to move money on behalf of others.
Money mule warning urges protection of bank details
The RBI also advised people not to share sensitive banking information with anyone.
This includes account details, passwords, PINs and one-time passwords (OTPs).
The central bank said protecting personal banking credentials was essential to preventing fraud and financial crimes.
The Money mule warning further urged customers to remain alert and verify any suspicious requests involving money transfers.
The RBI emphasised that safeguarding bank accounts was an important part of personal financial security.
“Protect your bank account, protect yourself. Easy money is never worth the risk,” the RBI said in its awareness campaign.
For additional information, citizens can visit the RBI’s financial awareness portal: RBI Kehta Hai Awareness Portal
The campaign carries the message: “Jaankaar Baniye – Satark Rahiye” (Be informed, stay alert).