Gardaí issue warning over money mule scam

GARDAÍ have issued a warning and advice to the public on how to protect themselves from becoming a money mule. 

A money mule is someone who transfers illegally obtained money between different bank accounts. It is a type of money laundering as it hides the source of the illegally obtained money.

Any one could be recruited, but newcomers to Ireland, unemployed persons, students or anybody in economic distress are vulnerable to this crime if they have a bank account number. Men aged between 18 and 34 years more likely to be targeted.

Sergeant Ber Leetch, crime prevention officer at Henry Street garda station explained how people are recruited.

"You can be recruited online through social media, websites, job adverts, instant messaging apps and by email. You can also be recruited through people you know like family or friends.

"A typical story used is that a friend who knows someone who cannot for whatever reason access their bank account and asks you for help so that they can transfer funds into your account.

"They will make it attractive by offering you money for the use of your account."

Sergeant Leetch went on to explain how the victims lose money to the scheme.

"Once the money is lodged into your account you are then instructed to transfer this money to another account, in most cases this could be an overseas account.

"You will then receive a small amount of money for providing this service. You might be told how much money will be lodged into your account, in most cases, they might say between €100 to €150 euro, but in reality, the amount your account receives is actually thousands of euro.

"The source of this money is illegal and comes from cybercrime, online scams, drugs or human trafficking.

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"While you are not involved in the crime that generated this money, you are acting illegally by helping these criminals to move the money easily around the world while they remain anonymous.

"Ignorance is no defence so keep your bank account details to yourself no matter how attractive an amount of money you are offered to share it."

The criminal offence facing a money mule is a terrorist financing offence under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.

If you are convicted you run the risk of a fine and a prison sentence of up to 14 years. You will also be placed on a terrorism watch list for life and your bank account will be frozen.

Sergeant Leetch concluded: "In case anybody listening thinks this could only be happening in other parts of the world, a young teenager walked into Roxboro Road garda station earlier this week with his mother. He had shared his bank account with a person who used it to launder money."