UK Sees Rising Trend of “Money Mule” Fraud Targeting Young Adults
The United Kingdom is experiencing a significant increase in “money mule” fraud, with people in their 20s being the most frequently involved demographic. According to data from UK fraud prevention group Cifas, more than 19,000 cases were recorded in the first half of 2024, representing an 11% increase from the same period in 2023. Individuals aged 21 to 30 were implicated in almost half of all recorded cases.
A money mule is someone whose bank account is used by criminals to transfer cash through a complex transaction chain, making the money harder to trace. This criminal activity can result in up to 14 years of imprisonment and has been linked to organized crimes including modern slavery and human trafficking.
Derai, a 26-year-old from Manchester, shared his personal experience of becoming a money mule in 2019. Seeking funds for a modeling portfolio, he was enticed by a friend’s social media posts showcasing apparent wealth and “quick money” opportunities. After responding to an Instagram advertisement, he was connected with a recruiter who deposited £4,000 into his account.
Dr. Nicola Harding from We Fight Fraud explains that money mule recruiters specifically target individuals who wouldn’t typically consider themselves criminals. By presenting the activity as a seemingly harmless “side-hustle,” they exploit the aspirations of young people.
The consequences of participating can be severe. In Derai’s case, his bank card was swallowed by an ATM, and his account was subsequently closed. He was placed on a six-year blacklist preventing him from accessing credit cards, loans, or mortgages. After multiple appeals, he eventually succeeded in removing the marker against his name.
Santander UK reported a significant increase in money mule cases, with 6,200 cases involving 25-34-year-olds (a 45% rise) and 4,600 cases among 18-24-year-olds (a 26% increase) in the 12 months leading to September 2024.
Social media platforms are considered key enablers of these fraudulent activities. While Meta, TikTok, and Snapchat claim to be taking measures to combat such scams, the National Crime Agency (NCA) continues to investigate these cases actively.
Nick Sharp from the NCA warns against “get rich quick” schemes, emphasizing that legitimate jobs never require access to personal bank accounts. He advises individuals to report suspicious requests and, ideally, avoid engaging with such opportunities altogether.
The rising trend of money mule fraud highlights the importance of awareness and caution, particularly among young adults who may be vulnerable to seemingly attractive financial propositions.
