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| Record increase in 'money mule' cases among UK young people | Record increase in 'money mule' cases among UK young people |
| (about 2 months later) | |
| Past year saw 105% increase in cases where seemingly innocent bank accounts are used to launder criminal proceeds | |
| Vikram Dodd Police and crime correspondent | |
| Mon 27 Nov 2017 07.00 GMT | |
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| Record numbers of young people are letting their bank accounts be used by criminals engaged in terrorism and other serious offences, it has been claimed. | Record numbers of young people are letting their bank accounts be used by criminals engaged in terrorism and other serious offences, it has been claimed. |
| The past year saw a 105% increase in cases of “money muling” for those aged 21 years or under, to 6,484 cases, where seemingly innocent bank accounts are used to launder criminal proceeds. | The past year saw a 105% increase in cases of “money muling” for those aged 21 years or under, to 6,484 cases, where seemingly innocent bank accounts are used to launder criminal proceeds. |
| Simon Dukes, chief executive of Cifas, the UK’s fraud prevention service, said: “The criminals behind money mules often use the cash to fund major crime, like terrorism and people-trafficking. We want to educate young people about how serious this fraud is in the hope that they will think twice before getting involved.” | Simon Dukes, chief executive of Cifas, the UK’s fraud prevention service, said: “The criminals behind money mules often use the cash to fund major crime, like terrorism and people-trafficking. We want to educate young people about how serious this fraud is in the hope that they will think twice before getting involved.” |
| Cifas says there were 8,652 cases of bank accounts belonging to 18- to 24-year-olds being misused in the first nine months of this year, a 75% increase in the last 12 months. That is double the number in 2013 when there were 4,315 cases. | Cifas says there were 8,652 cases of bank accounts belonging to 18- to 24-year-olds being misused in the first nine months of this year, a 75% increase in the last 12 months. That is double the number in 2013 when there were 4,315 cases. |
| Experts say one fraud asks people to reply to job adverts or social media posts that promise big sums of money way in excess of the work that will be needed. | Experts say one fraud asks people to reply to job adverts or social media posts that promise big sums of money way in excess of the work that will be needed. |
| Katy Worobec, head of fraud and financial crime prevention, at UK finance, which represents banking and financial companies, said: “Money muling is money laundering and criminals are using young people as mules in increasing numbers. We know that students are particularly vulnerable as they are often short of cash. | Katy Worobec, head of fraud and financial crime prevention, at UK finance, which represents banking and financial companies, said: “Money muling is money laundering and criminals are using young people as mules in increasing numbers. We know that students are particularly vulnerable as they are often short of cash. |
| “When you’re caught, your bank account will be closed, making it difficult to access cash and credit. You could even face up to 14 years in jail. We’re urging people not to give their bank account details to anyone unless they know and trust them. If an offer of easy money sounds too good to be true, it probably is.” | “When you’re caught, your bank account will be closed, making it difficult to access cash and credit. You could even face up to 14 years in jail. We’re urging people not to give their bank account details to anyone unless they know and trust them. If an offer of easy money sounds too good to be true, it probably is.” |
| Crime | |
| Banks and building societies | |
| Banking | |
| Young people | |
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