One in five Brits claim they have been approached to help illegally launder money, research has found.<br /><br />A poll of 2,000 adults revealed 21 per cent have been asked to receive funds to their bank, apply for a loan in someone else’s name, or open a new account, all in exchange for cash.<br /><br />Yet, a third of adults have never heard of the term ‘money mule’, which describes someone who carries out these actions in a money laundering process, and 21 per cent only had a vague understanding, according to research by Virgin Money [https://uk.virginmoney.com/fraud-and-security/].<br /><br />Money mule recruiters often use social media to target teenagers, students, vulnerable people, asylum seekers, and those who are on lower incomes or new to the country.<br /><br />Expert Jamie Wolff, from Virgin Money, explained how becoming a money mule has a devastating impact on individuals, and wider society: “This is not a sneaky way to make a few quid and then get a telling off if you get caught; this is serious business and can have huge consequences.”
