Allowing someone else to use your bank account could land you in prison. Do you know what to look out for and how to stay safe against this type of crime?
Crooks on Campus Film Screening!
Money Muling is rife across UK campuses. This is when a criminal uses your bank account to transfer funds gained through illegitimate means – doing this could land you in prison. Do you know what to look out for and how to stay safe against this type of crime?
We have collaborated with UCA to host an online screening of Crooks on Campus on Wednesday 2 March from 4PM - 5PM. This is your opportunity for you to learn more, ask questions and ensure you have all the knowledge you need to protect yourself against this type of crime.
Access the Webinar on the day of the event by clicking here.
What is a money mule?
Criminal gangs recruit students on campus to befriend and form relationships with vulnerable students and target them to become money mules, someone who transfers criminal money on behalf of someone else. They might ask to use your bank account to launder criminal money, maybe offering you a cut of the money to do this. If you fall for this, with or without awareness you become a money mule. Money Muling helps to fund organised crime, including terrorism, modern slavery and firearms. Up until recently, money mules were viewed as victims of criminal activity. Now, a money mule could expect to receive up to 14 years in prison.
Could you be vulnerable?
Due to the sophistication of these criminals, many students will be vulnerable to this type of crime. They might target students who have language barriers, or those who need some extra money, and they might fool the student into not even knowing it is illegal activity until it is too late. 57% of First-Year students have been approached to be money mules, and 25% of approaches were online AND in person. Recently, just one student in Yorkshire had 170K of criminal money confiscated from his bank account.
How do I know when something isn’t right?
If someone is asking to use your bank account, no matter how much you trust this person, they could be trying to use you as a money mule. If you are being asked to buy foreign exchange, concert tickets or pay bills through online means, even if it saves you a significant amount of money – this could be money muling. If someone is approaching you to earn ‘easy money', either in person or online, this is also a red flag.
How can I stay safe?
Crooks on Campus is a short crime drama film that was put together in collaboration between We Fight Fraud and Lancaster University with support from WPM Education and the National Crime Agency. In recent years universities, payment providers, and law enforcement have seen a sharp rise in money being laundered through universities via student payments. However, research shows that this is only the tip of the iceberg. Criminals have been targeting students globally, which is why we are raising awareness in collaboration with UCA to make sure you stay safe and savvy to this type of crime.