UK: Sharp rise in criminals using youths’ bank accounts to launder cash
11 Oct 2018

Anti-fraud organisation Cifas is calling on banks to do more to warn young people of the dangers of being used as money mules, after figures showed that there has been a huge leap in the number of young people being targeted.

Young people and students are particularly vulnerable as fraudsters know they are often short of cash.

Criminals may approach them with what looks like a genuine job offer, asking them to receive money into their bank account and transfer it onto someone else, keeping some of the cash for themselves.

“In the first nine months of 2018, as many as 9,636 people under the age of 21 agreed that criminals could use their bank account to launder cash,” the BBC said, quoting Cifas.

“That was a 26% increase on the same period in 2017.”

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