November 27 2017
The number of young people caught acting as “money mules” has doubled in the past four years, according to the UK’s fraud prevention service, Cifas. mule allows their bank account to be used by others to transfer money in and out of it, and in return, keep some of the money for themselves. The money to be laundered is likely to have come from drug smuggling, people trafficking and terrorism, experts say.
If caught, money mules have their bank accounts closed and could face jail. Between January and September of this year, there were 8,652 cases involving 18-24 -year-olds, Cifas said. It added that young people, including students, are often targeted because they are vulnerable and short of money.