Don’t become a money mule, young are warned

THE number of young people’s bank accounts being used to launder the proceeds of crime has risen by 75 per cent in the past year, a study found.

There were 8,652 cases of 18 to 24-year-olds becoming “money mules” from January to September, said Cifas, the fraud prevention service.

It suggested that they are targeted because they are often the most vulnerable, because criminals know they tend to be short of cash.

The service has teamed up with Financial Fraud Action (FFA) UK to set up the Don’t Be Fooled campaign.

Katy Worobec, of UK Finance, the organisation behind FFA UK, warned: “When you’re caught, your bank account will be closed, making it difficult to access cash and credit. You could even face up to 14 years in jail.”

Simon Dukes, Cifas chief executive, said: “We want to educate young people about how serious this fraud is in the hope that they will think twice before getting involved.”