credit mule
A victim of fraud persuaded to use their own name and information to obtain an…A victim of fraud persuaded to use their own name and information to obtain an expensive item with credit contract attached, such as a smartphone. The victim, or "mule", is paid on giving the item to the fraudster, and is assured the contract will be cancelled, but it is not. Thus, the victim acquires a debt while the fraudster can sell the item at a large profit.
Meaning
1 sensesA victim of fraud persuaded to use their own name and information to obtain an expensive item with credit contract attached, such as a smartphone. The victim, or "mule", is paid on giving the item to the fraudster, and is assured the contract will be cancelled, but it is not. Thus, the victim acquires a debt while the fraudster can sell the item at a large profit.
Origin
From credit + mule.From credit + mule.
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Forms
plural: credit mules| Singular | credit mule |
|---|---|
| Plural | credit mules |
regular