SCAM and FRAUD ALERT From Hampshire and IOW Neighbourhood Watch

HINWA (www.hinwa-nw.org.uk). Mar 2019.

Young people and students: don’t be a (Money) Mule!

A “Money Mule” is someone that’s recruited, sometimes unwittingly, by criminals to transfer illegally obtained money between different bank accounts. Money Mules receive the stolen funds into their account, then withdraw it and wire the money to a different account, often one overseas, keeping some of the money for themselves as payment. The money can be linked to terrorism, money laundering and other economic crimes. Banks are clamping down and closing tens of thousands of accounts a year in the UK as fraudsters increasingly use social media and fake job adverts to lure young people into becoming Money Mules.

The Risks

Even if you are unaware that the money you’re transferring was illegally obtained, you have played an important role in fraud and money laundering and can be prosecuted. If caught and prosecuted, you could:

• Find it difficult to obtain loans, credit cards and phone contracts. • Find entry to the US is declined. • Go to prison for up to 14 years.

How to keep safe from this type of fraud

1. Be extremely cautious about opportunities to make ‘easy money’. 2. No legitimate company will ever ask you to use your own bank

account to transfer their money. Don’t accept any job offers that ask you to do this.

3. Be especially wary of job offers from people or companies overseas as it will be harder for you to find out if they really are legitimate.

4. Never give your financial details to someone you don’t know and trust.

MoreFor more advice on signs to look for and how to avoid being a victim of this type of fraud go to the Money Mules website, https://www.moneymules.co.uk/