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Stay safe from fraud

Queen Mary has been made aware of a rise in students being targeted via social media and messaging services to act as “money mules”, a form of money laundering which makes use of student bank accounts.

Don't Be Fooled

UK Finance and the fraud-prevention organisation Cifas have teamed up to create the Don't be fooled campaign, with useful information about the dangers of becoming a money mule. 

They are offering the following advice to students to help you avoid falling victim to this fast-growing scam:

  1. Keep control. Don’t give away any of your bank account details, unless you know and trust the person receiving them – and never let anyone else access your account. Alarmingly, nearly one in seven (14 per cent) students have shared their pin number with someone else
  2. Money for nothing? Be cautious of unsolicited offers of easy money as this is a common tactic used by criminals to recruit money mules
  3. Tell someone you trust. Whether it’s a parent, tutor or friend, make sure you tell someone you trust about any concerns you might have
  4. Take time to think. Remember that letting someone else use your bank account is a potentially serious crime which could damage your financial future – is it worth it?
  5. Too good to be true? Remember the simple rule of thumb about offers of easy money: if it looks too good to be true, it probably is.

More advice for students can be found here.



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