Wednesday, May 19, 2004

Online Job Sites Targeted by Money Launderers

Fake employers are hiring people via Monster.com and other employment sites and tasking them with "job responsibilities" that involve transferring funds -- usually money stolen or gained through other illegal activities -- through their Pay Pal or credit-card accounts.

The scam typically works like this: The criminal organization -- and, increasingly, it does appear to be an organized effort -- posts a job on Monster or one of the other well-known sites. Usually, Dixon says, it has swiped a logo from a legitimate company to mimic its Web site. Some of the mock-ups are so good that they can fool the average person who is not looking that closely. The victim applies for a job, usually advertised under "shipping" or "accounts receivables."

The "receivables," of course, are either funds stolen from credit cards or money from illegal activities. In the case of the former, people who recycle the money through Pay Pal are often on the hook for the transaction fees -- in some cases in the thousands of dollars -- once it becomes clear what has been going on.

Read the complete story at NewsFactor Network

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