MONEY MULE AWARENESS MODEL: CONTENT ANALYSIS OF MALAYSIA BANK MONEY MULE ALERTS

Abstrak

Introduction/Main Objectives: The increasing number of money mule cases has shedding light on the evolving tactics used by criminals and the need for joint effort to combat these fraudulent activities. In response, the financial institution is encouraged to create awareness to the users on money mule as part of the crime prevention. Background Problems: Hence, this study aims to investigate the money mule scam awareness alerts done by the banks in Malaysia. Novelty: . This study conducts content analysis on the money mule scam alert of 19 banks that are listed in the Bursa Malaysia. Findings shows that the banks have done their part well in educating the users about money mule scam. Research Methods: There are five items covered in the money mule scam alert, which are the definition of money mule, punishment of the offence, warning signs of money mule scam, money mule modus operandi, and the reporting channel. However, the content of the money mule scam alert varies among the banks. Finding/Results: The findings of the study helps readers to understand the definition of money mule, techniques used by fraudsters and steps need to be taken if the victim realise to be part of the money mule scam. Conclusion: However, the study relies on the money mule alert scam of banks in Malaysia, which is unstandardised as compared to other developed country such as Singapore. Therefore, future study may conduct comparative study on money mule scam alerts conducted by banks in Malaysia and Indonesia.