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Money Mules #DontBeAMule

As the new college term begins, FraudSMART is partnering with Sole Mates and Ireland’s fastest man, Olympian Israel Olatunde, to host a special 5k social run to raise awareness among young people and students on the dangers of money muling and the red flags to look out for as the college year begins.

>> Find out more and get your tickets here <<

What is a money mule?

A money mule is someone who receives criminal money into their bank account and transfers it into another account, often in return for money, a commission or an expensive gift. This is a form of money laundering, which is a criminal offence.

Who becomes a money mule?

While people of any age are susceptible to becoming a money mule, the majority are aged between 18 and 24 years of age with some known cases as young as 14 and 15. Criminals frequently target young adults through social media ads and messages or seemingly legitimate job adverts, but they are also known to approach young people in-person outside schools, colleges, sports clubs or even at house parties. Young people might be coerced, conned, or tempted into working with the fraudsters especially if they feel under financial pressure due to college, accommodation and other costs and tempted by offers to earn ‘quick and easy money’. 

How are money mules recruited?

Criminals frequently target young adults through:

  • Seemingly legitimate job offers (e.g. ‘Admin assistant’ or ‘sales rep’) advertised on job forums or through social media posts and online pop-up ads.
  • Direct messages sent through instant messaging apps, social media or by email.
  • Criminals are also known to approach young people in-person outside schools, colleges, sports clubs, or even at house parties.

Warning sign with mule

What happens to the money?

Once recruited, a Money Mule receives stolen funds into their account, this is followed by a request to transfer/forward the funds to another account or withdraw the money. This is usually done in return for money, a commission or sometimes an expensive gift.

The money transferred by money mules are proceeds of crime, often stolen from innocent victims of text message and email scams or generated through other types of criminal activity such as drugs and human trafficking. 

What are the consequences of money muling?

Getting caught up in money muling can have a serious long-term impact on your future. Even if money mules are not involved in the crimes which generate the money (cybercrime, text scams and email scams, payment and on-line fraud, etc.), they are acting illegally by laundering the proceeds of crime, helping criminal syndicates move funds easily around the world and remain anonymous and to fund crimes such as drugs and human trafficking.

This is why the consequences faced for money muling are so serious. If you are caught acting as a money mule, even if you didn’t realise what you were getting involved in, you can face a prison sentence, fine or community service, and the prospect of a criminal record. In addition, you may have your bank account closed, have difficulty getting loans and mobile phone contracts and will be restricted when it comes to travelling, including to Australia or on a J1.

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.

Top things to look out for to avoid falling victim to money mule recruiters:

  1. Be very cautious of unsolicited emails or approaches promising opportunities to make easy money, particularly on social media.
  2. Thoroughly research any work from home opportunities and do not get involved unless you are sure the business is legitimate.
  3. Be particularly cautious of offers from people or companies overseas seeking ‘local/national representatives’ or ‘agents’ to act on their behalf as it is difficult to verify their legitimacy.
  4. Do not accept any job offers that ask you to use your own bank account to transfer money.
  5. Never give your bank account details to anyone unless you know and trust them.
  6. Never allow your bank account to be used by someone else.
  7. Never agree to open a new bank account in your own name in order to receive payments on behalf of the criminal.

     

Parents, carers and educators

It is important for parents, carers and educators to help young people understand the dangers and consequences of money muling, help build their financial resilience and help protect them against fraudsters and scammers operating online. For teenagers, the best age to start these conversations is 11-16.

Be on the lookout for red flags such as your child suddenly having extra cash or becoming secretive, withdrawn or stressed. Other tell-tale signs include the sudden appearance of increased spending on new clothes or technology.

If you are concerned your child is being exploited by criminals contact your local Garda station.

More information available on money muling at the Garda Síochána website here.