Layering is not a recent case in money fraud syndicates—these wrongdoings affect the victims in many ways. For alert victims, it may not be a complex problem for them. However, these money fraud syndicates can cost unsuspecting victims a lot.
The way this scammer acts is by giving a mule account information to the victim. These fraud syndicates are very cunning. They will not allow money to stay in one account for an extended time. The process of money tracing will be delayed. Hence, it will take some time to get it back.
In less than 5 minutes, the internet banking service will transfer the victim’s money into two mule accounts. Mule accounts are where criminals use users’ bank accounts that allow their accounts for illegal uses.
Types of layering: money scams syndicate
According to the Cyber Crime Alert Royal Malaysia Police, there are two types that are E-Commerce Crime or Non-Existent Loans, Love Scam, and Macau Scam.
E-Commerce Crime involves issues where the scammers cheat the victims, but they don’t realize it until they aren’t receiving the payment and loan money. The agent/seller is difficult to contact.
As for Macau and the Love Scam, it involves the fraud of millions. The victims only realized they got deceived after months of putting money into an unknown account.