Yes it is Illegal that is why they need you to open the account with your own name, and personal details. Its is one of the ways internet fraudsters use in moving and stealing money, I don't know how they do it, but they usually use that created account to File a benefit using your credentials and the fund is being paid to that account and they will withdraw it leaving you with small portion and sometimes they will empty the account entirely, leaving you to pay your bank and government the debt when they discover it was a fraud. Why most of the time they use this account as a means of accepting illegal payments from people who are within that area, which if trace you the account owner will be hold responsible for the crimes committed with that account.