The majority of money muling incidents use current accounts belonging to those aged between 14 & 24. Criminals are deliberately targeting teens and young adults when recruiting money mules so it is critical that this age group and their parents fully understand how these crimes operate and how they can avoid getting caught up in it.

Money mules are typically recruited though social media in what appears to be a friendly approach by the criminal offering ‘easy’ money in return for something which appears as simple as opening a new current account on behalf of the criminal or using their own current account to lodge or transfer money.

While money muling might initially appear to be an easy fix for those who are struggling financially or want to make some extra money, young people need to be aware that money muling is effectively money laundering and therefore a criminal offence.

The criminal offence facing money mules is a terrorist financing offence under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.

Running the risk of a fine, a criminal record and a possible prison sentence of up to 14 years is not the only consequence; you could also end up on a lifetime terrorism watchlist.

In addition, your Current Account may be blocked and will have several consequences like:

• It will impact your credit rating, making it more challenging to secure loans and mortgages in the future.
• Your travel plans may be affected, as you might encounter difficulties traveling or obtaining a visa to work or live abroad.
• Furthermore, your career opportunities could be influenced, as you may undergo background checks.

Fake Job Offers - where it just seems too good to be true!

The role includes transferring money or goods.

• The job duties are not specified.
• No education or experience requirements are mentioned.
• All interactions and transactions will be conducted online.
• The offer guarantees substantial earnings with minimal effort.
• While the company's claimed work nature may vary, the advertised job always involves using your bank account to transfer funds.

Fake Adverts or Offers

Money mule advertisements or offers might replicate a legitimate company's website and use a similar web address to create the impression of authenticity for the scam. If the advertisement is sent via email, the writing tends to be clumsy, featuring weak sentence structures, along with grammatical and spelling errors.

IF IT SEEMS TO GOOD TO BE TRUE IT PROBABLY IS!!

Be on the lookout for signs of your child suddenly having extra money or becoming secretive, withdrawn or stressed.

Appearance of increased spending on new clothes or technology with very little explanation as to how they got the money.

If you think your child may have become a victim of Money Muling, contact your local Garda station and inform the Credit Union immediately.