credit mule

Meaning

Noun

• A victim of fraud persuaded to use his own name and information to obtain an expensive item with credit contract attached, such as a smartphone. The victim, or "mule," is paid when he gives the item to the fraudster, and he 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

• credit + mule