Warning issued to anyone with a bank account

A warning has been issued to young people who are at risk of being exploited by "money muling". A money mule is someone who receives illicit money into their bank account and transfers it into another account, often in return for cash payments or gifts.

Experts have warned young people who become money mules could be putting themselves and their family at risk. It could also make it difficult for those involved in money muling to get a phone contract, a student loan or to find a job when they leave school.

In 2023, young adults up to age 30 accounted for 64% of cases indicating money mule activities, according to data from UK Finance and Cifas, the fraud prevention service. As International Fraud Awareness Week approaches, the Don’t Be Fooled campaign is providing free educational resources for pupils with special educational needs and disabilities (SEND) to teach them about the dangers of becoming a money mule.

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Sarah Sinden, of UK Finance, said: “Criminals are exploiting young people through money muling - robbing them of their confidence and in some cases their future opportunities. Fraudsters are using young people to launder the money they steal and forcing them to break the law in the process.

"It is shocking to see our young people exploited in this way. We launched the Don’t Be Fooled school campaign so teachers can feel supported to educate pupils about the harms of this activity.

"This International Fraud Awareness Week, we are calling on more teachers to take up the resources, including the new SEND material, to help keep students safe from this criminal activity.”

Don’t Be Fooled began its education programme last year, providing 16,000 resources to help students and parents learn how to stay safe online and in person.

The campaign has now launched new lessons specifically for SEND young people, as it is feared they may be "particularly vulnerable to exploitation by criminals". The programme is aimed at both primary and secondary pupils, and is currently in use at Garswood Primary School in Wigan.

A Don't Be Fooled spokesman said: "Criminals need money mules to launder the profits of their crimes and frequently target young people, who are often unaware of the consequences of them agreeing to do so. Intelligence suggests that criminals are increasingly using social media to target young people, but youngsters are also approached in-person outside schools, colleges or sports clubs.

"Allowing a bank account to be used in this way is a crime and can result in bank accounts being closed. Young people who become money mules could be putting themselves and their family at risk. It can make it difficult for them to get a phone contract, to get a student loan for college or university, or to find a job when they leave school.

"Those who become money mules are often unaware that the cash they are laundering is used by criminals to facilitate serious crimes such as terrorism, drug trafficking and people smuggling.

"Schools and teachers play an important role by educating young people about the dangers of money mules. Tell-tale signs that someone might be involved in money muling could be them suddenly having extra cash, buying expensive new clothes or top-of-the-range mobile phones and gadgets with very little explanation as to how they got the money. They may also become more secretive, withdrawn or appear stressed."

How parents can protect their children from money muling

• Make sure your child doesn't give their bank account details to anyone unless they know and trust them.

• Tell them to be cautious of unsolicited offers of easy money, because if it sounds too good to be true, it probably is.

• Look out for your child suddenly having extra cash, buying expensive new clothes or electronics with very little explanation as to how they got the money.

• A young person involved in money muling may become more secretive, withdrawn or appear stressed.

• If you are worried that a child you know might be involved in money muling, you can contact Crimestoppers anonymously on 0800 555 111.