Cyber-Criminals Targeting Unemployed To Launder Cash

A Cisco threat report has warned that cyber-criminals have been targeting the unemployed with money laundering schemes disguised as work-from-home jobs.

Cisco's 2010 Annual Security Report found that cyber-criminals have too much stolen financial account information to convert cash, and so are using unemployed people as 'money mules' to do the converting for them.

Such scams are disguised as work-from-home jobs, designed to lure in unsuspecting unemployed people. The 'job' usually involves receiving shipments of items, repacking them and shipping them abroad. Unbeknownst to the victims, the items have been purchased by cyber-criminals from stolen financial information.

“People scouring employment ads on legitimate, well-known job search sites also have been duped by these scams. Individuals who come in contact with these operations usually have no idea they are being recruited as money mules, and believe they are dealing with a recruiter for a legitimate company,” the Cisco report says.