FBI Special Agent Drew Scown shares stories about his work uncovering money scams.

Billions of dollars are moving outside of the United States each year. The problem of money laundering goes beyond wire fund scams targeting the older population. It can also impact anyone involved in real estate transactions. The FBI has seen an influx of fraudulent e-mail notices to buyers and sellers with urgent messages to “send the money now” from scammers. Sales agents need to also be aware of business email compromise that often triggers the scam. Real estate is a huge industry that can be attractive to money laundering because of the large and varied values. This impacts all geographies ranging from large cities to small rural towns.

Money laundering is the act of taking ill-gotten gains and move it through financial systems to use it without law enforcement detecting it. From gift cards to virtual currencies and wire transfers, money mule networks – are used for domestic and international fraud. Participants may be aware of the fraudulent action, or they may have no idea.

Red flags you need to know. Scammers will try to build trust in a fake relationship and ask to move money through your account. This can be large-scale overseas operations such as romance scams set to victimize financially and emotionally. The signals of money laundering are simple. If it seems too good to be true, trust your gut. If the transaction doesn’t make sense, ask questions about the business purpose. Look out if you are asked to participate in a transaction that you have no reason to be involved.

Contact local law enforcement if you have information about money laundering scams.