Record numbers of young people are letting their bank accounts be used by criminals engaged in terrorism and other serious offences, it has been claimed. The past year saw a 105% increase in cases of “money muling” for those aged 21 years or under, to 6,484 cases, where seemingly innocent bank accounts are used to launder criminal proceeds. Katy Worobec, head of fraud and financial crime prevention, at UK finance, which represents banking and financial companies, said: “Money muling is money laundering and criminals are using young people as mules in increasing numbers. We’re urging people not to give their bank account details to anyone unless they know and trust them. If an offer of easy money sounds too good to be true, it probably is.”

Source: The Guardian November 27, 2017 06:56 UTC