1. Short title This Act may be cited as the Money Mule Awareness Act . 2. Findings Congress finds the following: (1) Criminals frequently recruit unwitting participants to move and hide illicit funds through the U.S. financial system. (2) The Federal Trade Commission has issued materials to help educate consumers about money mule schemes. (3) In April 2020, the Federal Bureau of Investigation issued a warning and guidance to the public of money mule schemes exploiting the COVID–19 pandemic. (4) Depository financial institutions can be unwitting participants in fraudulent transactions by money mules and should be encouraged to educate at-risk customers of money mule schemes. 3. Guidance on money mule education programs (a) Guidance The Federal financial regulators shall, jointly, issue guidance to encourage depository institutions to establish programs to educate customers at risk of unwittingly becoming money mules. (b) Consultation In issuing the guidance required under subsection (a), the Federal financial regulators shall consult with the Attorney General, the Director of the Federal Bureau of Investigation, the Director of the United States Secret Service, and the Federal Trade Commission. (c) Definitions In this section: (1) Depository institution The term depository institution — (A) has the meaning given that term under section 3 of the Federal Deposit Insurance Act; and (B) means a State credit union and a Federal credit union, as such terms are defined under section 101 of the Federal Credit Union Act. (2) Federal financial regulators The term Federal financial regulators means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Financial Crimes Enforcement Network, the Federal Deposit Insurance Corporation, and the National Credit Union Administration Board. (3) Money mule The term money mule means a person who transfers illegally acquired money on behalf of or at the direction of another.