Glossary
Money mule
A money mule is a person who lets their account be used to receive and pass on funds for someone else, knowingly or not. Mules are often recruited through job offers or social media and paid a small fee.
Why it matters for brokers and payment firms
Mule accounts at payment firms receive funds from many sources and pay them out quickly. At brokers they may fund other clients' accounts or receive their withdrawals.