Are you, or do you know a money mule?
Have you been approached to earn some quick cash just by letting someone use your bank account? Sounds like a simple and quick way to earn money. However these transactions can have serious consequences for you as well as enabling dangerous criminal gangs.
A money mule is a person who transfers stolen money on behalf of others, usually through their bank account.
During the first nine months of last year there was a 75% rise in the misuse of bank accounts involving 18-24 year olds.
Accounts belonging to young people are being targeted by criminals as a way to transfer money illegally for criminal offences, such as drug money, tax evasion, human trafficking, terrorism etc.
Criminals prey on young people, especially students as they are short of money. Normally the victim is offered an amount of money for the use of their bank account, for example someone will ask you to put £200 in your bank account, and then transfer £150 back to them. You get to keep the £50 and they've got a 'clean transfer' of money into their account.
This is a criminal offence, known as money laundering. If you are caught money laundering, you can get up to fourteen years in prison, which will mean a criminal record and you not being to open a bank account.
Be aware is you are offered money for the use of your bank account, you are probably about to be used as a money mule. If something sounds too good to be true, it probably is.
Young people in this area have been used as money mules. Most not knowing the severity of the crime.
If you are approached and are unsure what to do, talk to a trusted friend or family member for support and report any suspected criminality to the police on 101 or anonymously via Crimestoppers.
