Notification On Mule Account
PUBLIC NOTIFICATION ON MULE ACCOUNT’S
In line with RMA’s notification on mule account & money mule Druk PNB Bank would like to inform our customers that a `Mule Account` is a bank account belonging to a legitimate person who has allowed another person to use/operate the banking transactions. The process of allowing a bank account to be used by another person turns the legitimate bank account into a `Mule Account`.
A `Money Mule` is a person who is recruited by another person to transfer or illegally transfer money on another person’s behalf, either for a fee/commission in return. A `Money Mule` is not aware of either the source of funds or the use of funds, for which they could be liable for prosecution in the court of law as a part of a fraud or money laundering activities carried out in violation of the law in vogue.
1. Therefore, Druk PNB Bank Ltd would like to request, our valued clients to refrain from such activities and if anyone has opened a bank account but is operated/used by another person itis solicited to close such accounts by 31st December 2021;
Failure to close such mule accounts by 31.12.2021 shall be dealt in accordance with RMA cautionary note to general public that:
1. Such mule accounts after the aforesaid deadline shall lead to suspending the bank account and freezing the funds without further consideration;
2. The mule accounts shall be forwarded to the relevant law enforcement agencies for further probe and initiating appropriate legal actions in accordance with the relevant laws of the country.