Fraud can happen to anyone. Yes that includes you!

Did you know that fraud is on the rise and young people are increasingly becoming the target of fraudsters and con artists?

Money mules let other people use their bank accounts so money can be sent to it.

With the majority of money mules being under age 30 and recruited at colleges and universities, either in person or online or via friends and family.

Criminal consequences

While you might think it’s great to get extra cash into your account and you might even be offered a cut, being a money mule has big consequences.

You might not know where the money came from or you might be told it’s not from illegal activities however allowing someone to use your bank account for transactions is never wise. 

If stolen money is added to your account or your account is used to send stolen money you are involved in money laundering, which is a serious offence that could land you in prison for up to 14 years.

Staying away from scams  

Some simple things that will help you stay away from scams and prevent fraudsters from using your bank account are:

Be suspicious – If something is too good to be true it probably is – stick to reputable job sites and don’t fall for jobs with a promise of easy money or quick cash

Research – Carry out enquiries to find out if it is legit. Don’t sign up for things without checking if it is a reputable company, whether they have an online presence, checking the email matches up, looking at reviews, checking where companies are based.

Don’t engage – Once they have your details fraudsters will often target you in different ways and share your details with other fraudsters.  It’s best not to respond to emails or posts offering large sums or money.

Don’t click – Don’t click on links sent in emails and check with people you know if they sent them before opening them.  Often such links are computer viruses that can access your computer files without you even knowing.

Don’t give or share your bank details – Don’t share your bank details. If you are buying online buy via Paypal or on a credit card which offer more protection than a debit card if you are conned. 

Check them out – If someone calls you claiming to be the bank, and IT service, or other organisation don’t give them card details over the phone or computer access.

Don’t store your bank details, pins, or passwords on your computer or phone.  Don’t let anyone use your card or pin – it can invalidate your account and can lead to fraudulent use.

Report – If you’re card gets lost or stolen, there are suspicious transactions or you have been a victim of fraud report this to your bank immediately and ask for your card to be cancelled or frozen with immediate effect.

Stopping the scammers

If you do happen to fall for a scam or fraudster you should:

Contact your bank and report it immediately and cancel your card with immediate effect

Report it the Police by calling 101 (non-emergency) or 999 (emergency)

Report it to Action Fraud and/or Trading Standards https://www.actionfraud.police.uk/

Contact HMRC Fraud Hotline Report tax fraud or avoidance to HMRC - GOV.UK (www.gov.uk) quoting IFMM23

Contact Crime Stoppers Give information | Crimestoppers (crimestoppers-uk.org) for anonymous reports quoting IFMM23 or call 0800 555 111

If you think someone’s involved in money laundering go to https://www.nationalcrimeagency.gov.uk/

Contact Crime Stoppers at Give information | Crimestoppers (crimestoppers-uk.org) or call 0800 555 111.