Money Mule Scams (CEO Fraud) Incident Response Playbook

This download includes the 6clicks Incident Response playbook for Money Mule Scams (CEO Fraud)

The purpose of a Cyber Security Playbook, or Security Playbook, is to provide all members of an organisation with a clear understanding of their roles and responsibilities regarding cybersecurity – before, during and after a security incident.

Money muling is a type of money laundering. A money mule is a person who receives money from a third party in their bank account and transfers it to another one or takes it out in cash and gives it to someone else, obtaining a commission for it.

Even if money mules are not directly involved in the crimes that generate the money (cybercrime, payment and online fraud, drugs, human trafficking, etc.), they are accomplices, as they launder the proceeds of such crimes. Simply put, money mules help criminal syndicates to remain anonymous while moving funds around the world.

Remember: If you face an incident, follow IRM, take notes, and do not panic. Contact your CERT immediately if needed.

6 steps are defined to handle security Incidents:

• Preparation: get ready to handle the incident
• Identification: detect the incident
• Containment: limit the impact of the incident
• Remediation: remove the threat
• Recovery: recover to a normal stage
• Aftermath: draw up and improve the process