Students across Gedling borough are being warned not to be tempted into becoming a money mule by the lure of quick cash.
Scambusters Action Fraud has issued the warning to students across the borough as many are being recruited, sometimes unwittingly, as “mules” to transfer money illegally between bank accounts by fraudsters.
A money mule is someone who is recruited by those needing to launder money obtained illegally. Criminals advertise fake jobs in newspapers and on the internet in a number of ways, usually offering opportunities to make money quickly, in order to lure potential money mule recruits. These adverts can appear in social media posts or by mass email. Some criminals have been targeting potential mules who have posted a CV on an employment website.
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A spokesperson for Action Fraud said: “Students are particularly susceptible to adverts of this nature. For someone in full-time education, the opportunity for making money quickly can understandably be an attractive one.
“The mule will accept money into their bank account, before following further instructions on what to do with the funds.
“Instructions could include transferring the money into a separate specified account or withdrawing the cash and forwarding it on via money transfer service companies like Western Union or MoneyGram.
“The mule is generally paid a small percentage of the funds as they pass through their account.”
Money laundering is a criminal offence which can lead to prosecution and a custodial sentence. Furthermore, it can lead to the mule being unable to obtain credit in the UK and prevented from holding a bank account.
