Global Mule Operators Adopt Advanced Fraud Schemes
- "Money mules" are a much-used tool in fraud operations
- "Mule operators" are evolving along with technology
- Behavioral analytic systems are key for detection mule activity
Money mules are a major component of fraud operations of organized crime rings. From opening legitimate accounts at financial institutions to depositing and extracting funds, they can be characterized as the "foot soldiers" for these organizations. What many financial institutions need to understand is that these operations span across the globe, not just the United States. And, just like in the U.S., their tactics continue to evolve.
"Mule operators" in the Middle East, Turkey, and Africa (META) region have rapidly “evolved from basic internet-masking tricks to sophisticated multi-layer fraud networks that now blend digital deception with physical logistics,” according to new research from Group-IB covered in Infosecurity Magazine (Aug. 20, 2025). In the past, such actors relied on VPNs and proxy tools to disguise their locations, but, as the article notes, “regulatory controls and IP reputation checks quickly rendered these tactics ineffective.”
By 2023, fraudsters innovated with “roaming SIM cards, Starlink terminals, and GPS spoofing to bypass location checks in regional banking systems.” The report highlights how a large mule group out of Syria and Turkey used stolen identities and GPS manipulation to open hundreds of accounts and funnel funds tied to extremist organizations through the financial system.
Understanding the Importance of Fraud Patterns
One of the most telling observations from researchers:
Fraud leaves patterns. With the right telemetry, even complex schemes can be disrupted.
This is a particularly important point, as controls and detection tools must advance to match fraudster tactics. Infosecurity documents further escalation into so-called “device muling,” where, rather than simply passing login credentials, “fraudsters shipped preconfigured smartphones across borders,” making tracing much more difficult.
Behavioral biometrics flagged discrepancies in swipe speed, typing rhythm and transaction patterns, revealing when accounts had been handed over to new operators.
Group-IB goes on to describe how fraud groups are increasingly “disguising these schemes as business partnerships, using formal documents, expense reimbursements and corporate-style narratives to avoid scrutiny.” In some instances, entirely new operational layers were observed, where “first-layer mules” open accounts, build trust, and then transfer credentials to overseas operators for laundering.
Behavioral Analytics Key for Fraud Detection
For financial institutions, behavioral analytic systems are key tools for detecting mule activity -- including deposit check fraud. Different analyzers can be leveraged to detect suspicious activity, from geolocation to activity levels. The technology can detect patterns and raise red flags on check deposits and money movement.
Additionally, Group-IB recommends the following:
- Multi-layered fraud detection combining IP, GPS, SIM and behavioral signals
- AI-driven anomaly detection and continuous intelligence sharing
- Enhanced know-your-customer (KYC) and video verification safeguards against synthetic identities
- Graph-based analysis to uncover hidden mule networks
As organized crime looks to accelerate their mule operations with new technologies and recruitment of more money mules, financial institutions need to ensure they have the right technologies in place to disrupt these crime rings.