What is money muling or money laundering, & how can I avoid it?

You may be approached by criminals online or in person, and even via social media such as Snapchat or Instagram. Sometimes fake job adverts are used to lure people in. They use phrases like “earn money quickly” with “no effort” and “no experience required”.

Criminal groups particularly target young people and students as they are less likely to understand the repercussions of any involvement, and the majority don’t have history of criminal activity, which makes these transactions seem less suspicious to banks.

There are situations that you might encounter where it's not immediately obvious that you’re being asked to be a money mule. For example, a flatmate could ask you to transfer some of their money into your account while they apply for an income-dependent bursary.

This might seem like a reasonable favour. However, holding sums of money on a flatmate's behalf so that they can secure an award they're not eligible to receive could jeopardise both your places at the university. It could also get you into trouble with the law.

If you do get contacted by a fraudster online or by social media or suspect any criminal activity, please report it to Action Fraud.

Key things to remember:

• Always be wary of a new friend or acquaintance asking you to hold on to money for them.
• If it is too good to be true, it usually is. People often get enticed by phrases like “easy money for little/no effort”, “make money quickly from home” or “no experience needed”. These claims should raise your suspicion and you should question the intent and repercussions for getting involved with organisations/people you know very little about.
• Never give out your bank details and periodically review your statements to ensure nothing unusual is occurring in your account.
• If you are approached by a fraudster, please report it so other people don’t fall victim to their scams.

To learn more about common money laundering schemes and how to stay safe, please check out:

• What is a money mule?

• CIFAS: Money muling video
• BBC Scam Stories: The Money Drop
• The Rise of Money Launderers on Snapchat & Instagram

If you’re concerned you may have been or are involved in money laundering, please contact us urgently. You can get in touch through any of these methods:

• Call or submit an enquiry to the Money & Housing Advice team
• If what’s happened is going to affect your fee payments, also contact Credit Control through the Student Fees Hub

In addition to university support services, please also report this to Action Fraud.