14 DAY TRIAL // The Metropolitan Police Service (MPS) arrested a man yesterday under the suspicion of recruiting money mules and creating counterfeit credit cards.
The 34-year-old man was arrested during a morning raid at a residence in East Ham and he was taken to a central London police station.
Investigators from the Metro's Police Central e-crime Unit (PCeU) believe that he was operating a local network of money mules.
The recruits were being instructed to open bank accounts, which cybercriminals operating abroad were using to launder stolen money.
At the suspect's house, police found electronic equipment capable of writing magnetic stripe data, which might have been used to produce counterfeit payment cards. Digital data was also collected and will be analyzed.
"Money Mules are one of the key enablers for all types of fiscal fraud and Internet based crime in particular. This arrest reinforces our commitment to combating suspected money 'muling' in both London and across the UK.
"Individuals tempted by advertised job opportunities moving money using their bank accounts should not get involved as they could be taking part in wider organised money laundering crime," said Detective Inspector Paul Hoare, from the PCeU.
The arrest marked the start of the National Identity Fraud Prevention Week in UK, an effort to raise awareness about the risks of identity theft and educate consumers about methods of protecting themselves against such crimes
Last month authorities in New York, charged 37 people suspected of recruiting or acting as money mules for a cybercriminal ring based in Ukraine.
The gang, which also had a branch operating in the UK, used the ZeuS trojan to infect computers and steal online banking credentials from their victims.
According to the UK investigators, the eleven suspects arrested and charged in connection with the operation, managed to steal £6 million in only three months.