How do 'Book Now, Pay Later' flights work?
Book Now Pay Later (or Fly Now Pay Later) is a payment method that spreads the cost of flight bookings, often in instalments. Discover which airlines accept it.
When Tim spotted the opportunity on an online marketplace to ‘sell’ his Wise account, the money on offer was tempting. His account wasn’t being used much anymore, and he could use the money for important expenses. It was a win-win situation.
Speaking to Lucas who wanted to buy the account, Tim took a payment of 1,500 SGD into his main bank account and handed over the email address and password needed for his Wise account. Lucas quickly changed these, and reassured Tim he wouldn’t hear from him or Wise again.
But what Tim didn’t realise was that he was facilitating both fraud, and money laundering. Lucas was using his legitimate account, set up with his passport and personal details, to scam people and move the money illegally.
While Tim might not have known exactly what he was doing, he’s now at the centre of a very serious criminal case. Tim has been a money-mule, and as such has perpetrated a serious crime. His bank accounts are now blocked, and he could be left with a criminal record and even a potential prison sentence.
At Wise, keeping our customers safe is a top priority for us. But we need you to help us too. When using Wise, make sure to follow our terms and conditions.
Make sure to follow the below:
Never disclose your Wise Account password or your customer reference number (which starts with the letter 'P', followed by a series of numbers) to any third party. Keep them safe. Change your password regularly.
We will never ask you to provide your password to us or to a third party. Tell us if anyone asks for your password and contact Customer Support if you are not sure.
Sometimes, allowing someone access to your account via remote software
might feel harmless, but it’s not. It’s one of the simplest ways for scammers to get their hands on your account, and go undetected. It’s a breach of your contract with Wise, and for good reason.
At Wise, we will never ask you to download software to access your device, or offer to make a payment for you. Our customer service agents will give clear instructions over the phone, or on email, but will never ask to take control of your device.
The only reason a stranger would need you to make a payment on their behalf, is if there’s something they want to hide. For example, there’s a legal reason the money they want to send can’t be seen to come from their bank. Making payments and moving money for someone you don’t know, often with a small payment for the trouble, is a classic sign of money laundering.
Fraudsters often target people who don’t have a history of criminal activity to make these transactions seem less suspicious to banks. You won’t know where the money is coming from, or where it’s going, but it could be used to fund drugs, child trafficking or even terrorism.
If you allow your account details to be used for fraud you could face a sentence of up to 14 years, depending on where you live. Money muling is a very serious offence, and can have long term impacts on your future finances.
Don’t make payments on behalf of another person, and keep your account safe from potential scammers and fraudsters.
Tim's story is a combination of events that have happened to real people, but in itself is fictional to help raise awareness about scams currently affecting the financial sector.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Book Now Pay Later (or Fly Now Pay Later) is a payment method that spreads the cost of flight bookings, often in instalments. Discover which airlines accept it.
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