Waterford gardaí issue warning as children and young adults are lured into being money mules
Children as young as 14 are being approached to act as money mules
Waterford gardaí have issued advice to the public on combating the growing trend of money muling.
A money mule is someone recruited by criminals to receive money into their bank account in order to transfer stolen or fraudulent money, withdraw the money or wire it overseas.
Waterford gardaí say a new survey has found that in a 12-month period alone, €9.4 million was laundered through money mule accounts in Ireland.
Some scams involved children as young as 14.
The survey found that a third of young people aged between 18 and 24 have been asked or know somebody who has been approached to act as a money mule.
27% of those aged 18-24 admitted they would be likely to consider using their bank account to transfer money on behalf of someone else.
While 31% did not realise they would be committing a money laundering offence, 35% did not understand they could face jail time, and 42% were unaware it could affect their ability to travel abroad or secure a work visa.
While anyone can fall for these illegal arrangements, young people aged 18 to 24 are most susceptible.
Who becomes a Money Mule?
Criminals target young adults through social media ads and messages or seemingly legitimate job adverts.
The criminal often promises money or an expensive gift.
Young people are approached in person outside schools, colleges, or sports clubs, with men being more likely to be targeted than women.
Young people may not always agree willingly but might be coerced, conned, or tempted into working with the fraudsters, especially if they are under financial pressure.
But this is not “quick and easy money”.
The money transferred is taken from innocent victims of text and message scams and other types of fraud.
That money can then be used to facilitate terrorism, drug trafficking and people smuggling.
This is why the gardaí and the courts take the matter so seriously, even if the money mule was unwitting.
If caught, a money mule could face a prison sentence, a fine or community service.
And misusing your bank account could result in it being closed, which limits your ability to get loans or contracts.
Additionally, having a criminal record means you might be restricted from travelling on certain visas.
- Be very cautious of unsolicited emails or approaches promising opportunities to make easy money, particularly on social media.
- Thoroughly research any work-from-home opportunities and do not get involved unless you are sure the business is legitimate.
- Do you not accept any job offers that ask you to use your own bank account to transfer money.
- Never give your bank account details to anyone unless you know and trust them.
- Never allow your bank account to be used by someone else.
- Never agree to open a new bank account in your own name in order to receive payments on behalf of the criminal.
The survey found that almost half of 18-24-year-olds said they had never heard of the term money mule.
Some 60% of parents of teenagers said they have not discussed the risks of money muling with their children.
So gardaí are asking parents, carers and educators to help young people do so and help protect them against fraudsters and scammers operating online.
For teenagers, the best age to start these conversations is 11-16.
If you are concerned your child is being exploited by criminals, contact your local Garda Station.
If you have been approached to act as a money mule or have been a victim of this type of crime, report it to your local Garda Station and contact your bank.
