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University students are increasingly becoming targets for money mule schemes, a form of financial fraud that can have severe outcomes. 

What is a money mule?

A money mule is someone who transfers illegally acquired money on behalf of others, often unknowingly taking part in money laundering schemes. They act as a middle person, moving funds between accounts to hide the money's origin and make it harder for authorities to trace.

Why University students?

University students are attractive targets for several reasons:

• Financial need: Many students struggle with living expenses and tuition costs, making them vulnerable to offers of easy money.
• Naivety: Less experienced in financial matters, students may not recognise the signs of a scam.
• Access to bank accounts: Students typically have bank accounts that can be used for transactions.
• International connections: Foreign students may be asked to transfer money across borders, which is particularly useful for criminals.

How money mule schemes work

• Recruitment: Scammers approach students through social media, email, or even in person with job offers or business opportunities.
• Convincing story: They present a seemingly lawful reason for needing help transferring money.
• Account details: The student is asked to provide their bank account information.
• Money transfer: Funds are deposited into the student's account, and they're instructed to transfer it elsewhere, often keeping a small percentage as payment.
• Consequences: The student unknowingly becomes part of a money laundering operation, risking legal and financial repercussions.

Red flags to watch for

• Job offers that seem too good to be true
• Requests to use your personal bank account for business purposes
• Pressure to act quickly or keep the arrangement secret
• Poor grammar and spelling in communications
• Requests to transfer money to unfamiliar individuals or companies

Consequences of becoming a money mule

• Criminal charges and potential imprisonment
• Damaged credit score and financial record
• Difficulty opening bank accounts or obtaining loans in the future
• Compromised personal and financial information
• Potential expulsion from university

Protecting yourself

• Be doubtful of uninvited job offers, especially those involving money transfers.
• Research any company or individuals offering you work.
• Never share your bank account details with strangers.
• If an offer seems too good to be true, it probably is.
• Consult the university's Funding Team if you're struggling financially or reach out to the

What to do if you suspect you're involved

• Stop all communication with the suspected scammers immediately.
• Contact your bank and explain the situation.
• Report the incident to local law enforcement and your university's security department.
• Seek legal advice if necessary.

Remember, legitimate businesses will never ask you to use your personal bank account for their transactions. Stay informed, stay alert, and protect yourself from becoming an unwitting participant in financial crime.

We Fight Fraud, an organisation created to provide insight and advice regarding fraud and scams, has launched an informative short film 鈥淐rooks on Campus鈥�. We would advise everyone to watch to avoid being a victim or becoming involved with these activities. 

More information can be found on the We Fight Fraud webpage -

With additional information here -

If you are in any doubt about anything within this article, or are concerned you may be unknowingly involved, please contact the funding team at funding@essex.ac.uk