Almost six in 10 young adults would be open to making a bit of extra cash by accepting money into their bank account and transferring it on to someone else without being aware of where it came from – despite money laundering being illegal.
The study of 1,000 18-30-year-olds found 32 per cent could have unknowingly engaged in this activity known as ‘money muling’.
This type of fraud is being disguised as job adverts online offering an easy way to make quick money, where they keep a ‘commission’ after sending the funds elsewhere.
However, 78 per cent of all respondents have no idea what a money mule is and a quarter think it is someone who tops up cash machines with money.
While 59 per cent were not aware this type of activity could be illegal.
Another 15 per cent believe money laundering either involves putting money through the washing machine or hanging it out to dry.
Figures from fraud body Cifas shows there have been 18,626 cases linked to money mule activity from under 30’s so far this year, accounting for 62 per cent of all cases.
NatWest Honest Job Ad from Taylor Herring on Vimeo.
Be wary of consequences
The research was commissioned by NatWest to raise awareness of money muling – which sees their ‘honest job ad’ run across social media starring Perri Kiely as a ‘recruiter’ advertising the perks of being a money mule – showing the realities the criminals behind them don’t want you to know.
Stuart Skinner, fraud and scam expert at the bank, said: “Now more than ever, everyone is becoming more mindful of money, which is put under even more pressure by the increased outgoings during the festive season.
“We want to help young people be safe when it comes to their finances and make sure they are aware of the dangers that