Money Mules- Don’t get caught out!
Young people and students are often being targeted and recruited as money mules.
What does this mean?Fraudsters often need a way to move stolen money out of their victim’s bank account.
They won’t want to use their own account in case they get caught so will try to find someone else’s account that they can use to move the stolen money.
You might see an ad online for some quick, easy cash – or you might be told a story about why someone needs to use your account for a seemingly legitimate reason.
Never ever allow someone else to use your bank account.
If your account is used to move stolen money you’re risking a criminal record. This can affect your future employment and also your ability to get visas for certain countries like the USA.
According to research by Fraud smart in 2020
- Over a quarter of 18-24 year olds claim to know someone who was approached to act as a money mule.
- By September 2020 up to 1,000 incidents of money mule transactions totalling in excess of €12, million had moved through bank accounts.
Source: FraudSmart.ie
What can you do?
Beware of requests to make quick and easy money.
Beware of job advertisements that might seem genuine but promise a quick and easy way to make money, and simply ask that you have a bank account.
Don’t be tempted to allow your own bank account to be used to move money to other accounts.
Always verify any ‘working from home’ opportunities to make sure that the business is legitimate, such as by checking their contact details (address, landline phone number, email address and website).
Remember that moving stolen money is illegal and can have serious consequences.
Report Fraud:
Lost or stolen card?
As soon as you believe your card has been lost or stolen, please get in touch. We’ll cancel your card as soon as you tell us it’s missing and get a new card issued to your address (the one we have on file for you) in 5 to 7 working days.
Fraud, suspicious activity or unauthorised transactions?
To report online fraud, suspicious activity, unauthorised transactions on your account or ATM fraud, please contact us as soon as possible via our Freephone numbers listed below. Shared your online login details?
If you have shared your banking details in response to a suspicious email, text or call, please notify us as soon as possible via the Freephone numbers listed below.
Report a suspicious email or text
To report suspicious Bank of Ireland related emails or texts (both personal and business customers), send the suspicious email or text to 365security@boi.com
Emergency Contact Numbers
Republic of Ireland
Freephone: 1800 946 764 (personal and business)
Great Britain & Northern Ireland
Freephone: 0800 121 7790 (personal and business)
Everywhere outside Republic of Ireland, Great Britain & Northern Ireland
Not Freephone + 353 1 679 8993
Not Freephone + 353567757007 (Lost/Stolen cards or smart device)
