HM Revenue and Customs is warning students to be aware of money mule scams

Young people are increasingly the major victims of fraud. Victims don’t only lose their money, they can lose their family savings, their businesses, their trust in other people, their mental health and plenty more. 

An example of one of the most important enablers of fraud are money mules. This is where you let someone else use your bank account to receive money. 

Around six in ten mules are under 30 and most are recruited between the ages of 17 and 24. Many criminals target recruitment at universities or colleges - either online, in person or via friends and family. They aim to ensure consequences hit the mule instead of them. 

Money mules usually sign up because they receive a cut of the stolen money. This means they are involved in money laundering, a serious criminal offence with a maximum sentence of 14 years in prison. 

How can you protect yourself? 

• Be suspicious of job adverts that offer the chance to earn quick and easy money. Stick to reputable job sites and remember that, if something looks too good to be true, then it probably is.  Jobs4Students provides Manchester Met students with job opportunities, including short- and longer-term roles a wide range of areas and our Careers Hub has a range of legitimate roles.  
• Don’t sign up for any opportunity without undertaking proper research. E.g., Google any prospective employer, does it have an online presence? Are its contact details legitimate? Is it based overseas?  
• Don’t engage with any online posts offering large sums of money.  
• Don’t accept message requests from people you don’t know. If you receive a message with a link to click from a friend, speak to them in person before you respond.  
• Don’t share bank and personal details with anyone you don’t know or trust - even among friends or family. If someone asks to ‘borrow’ your bank account, say no.  
• If you aren’t sure about the source of the money, it could have come from criminal activity. You could unwittingly launder money and end up with a serious criminal conviction.

What should you do if someone approaches you?   

1. Ask for advice from someone you trust.

If you or someone you know has been approached, break off all contact, don’t receive or move any money. Criminals operate in silence – by talking about it, you are protecting others. 

2. Report mule recruiters by:  

• calling your local police on: 101 or 999 in an emergency.  
• contacting the HMRC Fraud Hotline  on 0800 788 887 quoting ref: IFMM24. You don’t have to give your name or contact details unless you want to.  
• contacting the independent charity CrimeStoppers 100% anonymously online or by calling 0800 555 111, quoting ref: IFMM24. If it’s online, click the button to report it to the social media companies to have it taken down.  

3. If you think someone you know is already involved, go to the National Crime Agency website for advice. 

4. If you have been a victim of fraud and criminals already have your personal information report it to Action Fraud National Fraud & Cyber Crime Reporting Centre on 0300 123 2040 

Find more tips on how to keep your money safe and resources in our safety section.