The dangers of being a ‘money mule’
We’ll send you a myFT Daily Digest email rounding up the latest Money Clinic with Claer Barrett news every morning.
If you’re offered the chance to make some easy money during the pandemic, what should you do? Money Clinic was emailed by 19-year-old student Henry who, along with many of his friends, had been contacted on Snapchat and Instagram and asked: ‘Do you want to make money working from home?’ To earn a few hundred pounds, students are being asked to open bank accounts, then receive and transfer money. This may sound innocuous. But as presenter Claer Barrett reveals, acting as a ‘money mule’ is a criminal offence, and could involve money laundering. Reformed fraudster Tony Sales and anti-fraud expert Mike Nathan explain how it works and how to stay safe online.
If you would like to talk to Claer for a future episode, please email the Money Clinic team at firstname.lastname@example.org with a short description of your dilemma, and how you would like us to help. Follow Claer on Twitter and Instagram @Claerb and read her weekly Serious Money column in the FT Money section of the FT Weekend newspaper.
-Claer’s FT column this week goes into much greater detail about money muling, and how parents can spot the signs
-Claer won a Wincott Award for this 2018 column exposing “Modern Day Bank Robbery”, which highlights the techniques criminals use to steal money from the unwary online
-You can also read Claer’s column: Don’t fall for these 10 financial scams
-And Tony Sales, the reformed criminal we heard from on today’s show, will shortly be releasing his autobiography - The Big Con: How I stole £30m and got away with it, published by Mirror Books
See acast.com/privacy for privacy and opt-out information.
Transcripts are not currently available for all podcasts, view our accessibility guide.
Get alerts on Money Clinic with Claer Barrett when a new story is published