Money muling activities penalized under RA 12010

Dear PAO,

A few months ago, a former college classmate asked me if he could borrow my bank account. Since I had just returned from working abroad and wasn't using my account with XXX bank, I declined his request. He approached me again a few weeks later, offering a significant amount of money. He even proposed paying double if I could provide another account belonging to a family member. Honestly, I was tempted to surrender to him my account and my wife's bank account because we needed the money. But after much thought, I decided to decline again. Recently, I told my cousin about that offer. My cousin told me that this college classmate of mine has been involved in scams and online fraud. He also warned me that I could have ended up in jail had I given our bank accounts. Is it really possible for me to be held liable if I had actually lent my account and persuaded my wife to lend hers as well? I just want to know so we can be more careful in the future.

Dino

Dear Dino,

Bank and other financial account holders should always be vigilant not only in protecting their own accounts from unauthorized access but also from having their accounts used as a tool to commit crimes or offenses through social engineering schemes or as means of furtherance thereof.

A common illegal activity these days is the so-called money muling. Republic Act (RA) 12010, otherwise known as the Anti-Financial Account Scamming Act (Afasa), defines money muling as a form of financial account scamming, specifically:

«Section 4. Prohibited Acts. – The following acts shall constitute Financial Account scamming under this Act:

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»(a) Money Muling Activities. – A person performing any of the following acts for the purpose of obtaining, receiving, depositing, transferring, or withdrawing proceeds that are known to be derived from crimes, offenses, or social engineering schemes shall be considered as a money mule:

"(1) Using, borrowing or allowing the use of a Financial Account;

"(2) Opening a Financial Account under a fictitious name or using the identity or identification documents of another;

"(3) Buying or renting a Financial Account;

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"(4) Selling or lending a Financial