23 Oct 2018
A man who got teenagers as young as 13 to allow him to use their bank accounts to move cash has been jailed for money laundering.
According to City of London Police, the Newham-based man had control of six Facebook accounts and an Instagram account that he used to recruit the money mules.
A 13-year-old boy was told he would receive £1000 for giving his bank card and PIN.
In total, nearly £36,500 was moved through different bank accounts belonging to 15 teenagers aged 13 to 19 years-old between September 2015 and February 2017.
Through social media, he would advertise for bank “card holders” aged “15+” and post videos showing large amounts of cash.
When he had made contact with someone, he would often meet up with them in person.
He told one 15-year-old boy that if he handed over control of his bank account and allowed between £800 and £1000 to be paid through it, he would receive £300.
“Images and videos which featured on a number of Facebook accounts used to recruit money mules were saved on [his] laptops, iPad and iPhone and data showed him logging into those accounts from his home address on numerous occasions,” the police explained.
“One image showed a bank card specifically for under 18s and a receipt showing the account balance associated with that card as £49,905.88. The data also showed that he had logged into the online banking accounts of a number of the children he had recruited.”
Advance your CPD minutes for reading this article, by signing up and using the CPD WalletFREE CPD Wallet