One in five Brits claim they have been approached to help illegally launder money, research has found.
A poll of 2,000 adults revealed 21 per cent have been asked to receive funds to their bank, apply for a loan in someone else’s name, or open a new account, all in exchange for cash.
Yet, a third of adults have never heard of the term ‘money mule’, which describes someone who carries out these actions in a money laundering process, and 21 per cent only had a vague understanding, according to research by Virgin Money [https://uk.virginmoney.com/fraud-and-security/].
Money mule recruiters often use social media to target teenagers, students, vulnerable people, asylum seekers, and those who are on lower incomes or new to the country.
Expert Jamie Wolff, from Virgin Money, explained how becoming a money mule has a devastating impact on individuals, and wider society: “This is not a sneaky way to make a few quid and then get a telling off if you get caught; this is serious business and can have huge consequences.”
