What are money mules?
Money mules are used to launder money.
Money laundering is the process of making money that has originated from criminal activity appear legitimate.
How does this work?
A money mule is an individual who, sometimes unwittingly, lets a criminal use their account to move money.
Criminals will start by placing money within an account. They’ll then ask an individual to withdraw it to a different account, often letting that individual keep a small amount for themselves.
What should I look out for?
The use of money mules is on the rise, with criminals largely targeting those under the age of 35.
You should be cautious of any approach which involves:
Unsolicited offers to make easy money;
Being asked to move money on behalf of another person;
Giving personal information, including bank details, to an unknown person.
What should I do if I am approached?
If you are approached, stop and do your own research. Never share your bank details with someone you don’t know and remember the old saying: if it sounds too good to be true, it often is!
You can find more information on reporting concerns here.