I implore you to watch this short video which entails how the United States correctly and fairly deals with money mules.

‘When criminals obtain money illegally, they have to find a way to move and hide the illicit funds. They scam other people, known as money mules, into moving this illicit money for them either by online transfers, physical movements of cash or through other methods.’

The United Kingdom needs a systematic change when it comes to dealing with and preventing money mules.

The similarity between the UK and the US when it comes to money mules is that they recognise that the majority of people are unwitting. They both realise that people get tricked into the position and that they don’t know what they’re doing is illegal. Especially teenagers and young adults.

 

How the US deals with the fact that innocent people are unwittingly getting involved daily:

They send out what’s called a ‘money mule warning letter’ to the account holder of the bank account that has been used for illegal activity. This will allow the unwitting, those who have been tricked, to know what’s going on and it gives them a chance to stop. This has been shown to work; 84% of a selection of money mules stopped after they were issued the warning letter. Anyone who then continues is subject to punishment. This is fair.

 

How the UK deals with the fact that innocent people are unwittingly getting involved daily:

When found, the account is closed and they apply what’s called a ‘first party fraud’ marker against the account holder's name with zero warning or notice. You could go years without knowing you’ve got one (but considering how devastating to daily life it is, you will realise quickly). This marker prevents that person from receiving any financial credit for the next 6 years. This includes but is not limited to; no opening bank accounts, credit cards, mortgages, phone contracts, car finance, plus much more. On top of that, certain UK judges believe that those who are caught up in this scam deserve prison sentences because apparently “that’s the only way to stop it” when there’s clearly other fair and just ways. I hope you can agree this is beyond unjust.

 

Thousands of innocent British teenagers and young adults aren’t given the chance to save their financial future. They don't realise what has happened until it is too late. They either go on with their lives, never realising a crime was committed, or they realise what they have unwittingly become a part of and come to find that they could go to prison. In either situation, how could you ever expect anyone to come forward?

This is why you need to sort the witting from the unwitting - now. You need to sort the actual criminals from the everyday people. 

 

I want to see warning letters issued like the US does.

I want to see more awareness about money mules on all banking apps - at the source, so there is no hiding from it.

 

This will help the country prevent money laundering, as well as preventing young lives from unfairly being destroyed purely because they’ve never heard of what a money mule scam is.

I will not sit here and let anyone else go through what thousands of other people my age have. I wouldn’t wish this on my worst enemy.

Again - Please watch this short video showing Steven M. D’Antuono, Special Agent in Charge at the FBI, explaining how the US deals with money mules.

Thank you so much.

 

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