image description

FraudSMART Money Mule Campaign

BPFI’s fraud awareness initiative FraudSMART, recently launched a campaign with An Garda Síochána aimed at young adults encouraging them to be alert to the risks and consequences of being recruited as “money mules”.

A survey commissioned by FraudSMART shows strong evidence of money mule activity among young people in Ireland, with research indicating more than two in five (43%) 18-24-year olds are likely or very likely to lodge or transfer money for someone using their own bank account in exchange for keeping some of the money for themselves. This makes them the age group most susceptible to becoming money mules, compared to an overall average of 29% across all age cohorts surveyed.

The survey also revealed that 14% of 18-24-year olds say that they or someone they know have already been approached by another person looking to use their bank details to store money for someone else. When asked about transferring money, the figure jumps to one in five (19%) young adults aged 18-24 who reported that they, or someone they know, have been asked for their bank details by a third party looking to carry out a transaction. This compares to 12% of adults aged 25+, with older age cohorts less likely to be approached.

As part of the awareness campaign, a team of up to 30 crime prevention officers from An Garda Síochána will be on college campuses around the country over the coming weeks to engage with students on the issue and FraudSMART information leaflets are being made available through the Students Union of Ireland.

If you would like further information on this item please contact Niamh Davenport, Head of Fraud Prevention at niamh.davenport@bpfi.ie

Return to BPFI Brief - 17 April 2019