Clare students warned against becoming ‘money mules’

CLARE students are being warned about the “serious impact” of becoming a ‘money mule’ .

A Money Mule is a person who transfers money illegally on behalf of other people.

“They allow their account to be used for the transfer of ill-gotten gains. They may or may not be aware of the crime. However, they are complicit if they recklessly allow their account to be used to launder the proceeds of these crimes,” explains Crime Prevention Officer Sergeant Triona Brooks.

Students are often targeted by organised crime gangs to act as money mules, laundering thousands of euro through their accounts in exchange for a few hundred euro, she outlines.

“Anti-money laundering legislation is designed to prevent organised crime gang members from opening up accounts so they need money mules to launder their money. Students are an easy target for these “money herders”.

“They are often approached online, on campus, or while out socialising.”

She advises: do not allow anyone to use your bank account; do not share personal bank account data; and do not send or receive money.

“Trust your instincts. If it sounds too good to be true it most likely is. Be wary of any approaches or opportunities to make easy money.”

If you agree to allow your account be used in this way you are committing the offence of Money laundering, she points out.

“Money laundering is a serious offence which on conviction can carry a penalty of up to 14 years imprisonment. This will have a serious impact on student’s future travel and career opportunities. If you are approached to facilitate this crime – say no and report the matter to An Garda Síochána.”