A law enforcement agency has reported a growing trend in the use of Instagram and TikTok to recruit money mules, individuals who may be unaware that they are assisting criminal organizations in laundering money.
Individuals caught in this scheme risk prison sentences of up to 14 years and may also face restrictions on opening or maintaining a bank account.
Advertisements on these social media and short video platforms display individuals flaunting significant amounts of cash, enticing users with promises of easy money.
Respondents are connected with someone who proposes to deposit money into their account, often claiming they can keep a portion of it after transferring the majority to another account. In some situations, they might be instructed to withdraw cash after money has been sent from abroad.
Unbeknownst to them, they are facilitating the laundering of money for criminal gangs, which is a serious offense.
BBC News reports an 11% increase in UK cases from the previous year, with many people unaware of the legal perils they face. They highlight the story of one individual who became unwittingly involved.
Derai mentions that he had no knowledge of money mules until he became one […]
“I came across a friend’s post online that said: ‘Want to earn quick money today?’” Derai noted that his friend’s Instagram showcased photos of “luxury cars, hands holding £50 notes, and exotic vacations.”
“It was all about the glitzy lifestyle,” he shared. “She would often say, ‘I earned this much today, and you can too’.”
Responding to an Instagram ad for “easy cash,” Derai was connected to someone he later recognized as a money mule recruiter.
After conversing, he provided his bank details, and £4,000 ($5,000) was deposited into his account the same day. He planned to withdraw the funds from a bank and return them to the recruiter.
However, while following their instructions, the ATM retained his card, and he soon learned that his account had been closed. […]
“I was informed I wouldn’t be able to open a bank account for up to six years,” Derai recounted. “It’s like being placed on a blacklist. No credit card, no loans, no mortgage.”
According to the UK’s National Crime Agency (NCA), social media platforms are a common avenue for recruitment.
The NCA states that TikTok and Instagram feature prominently in their ongoing investigations.
Meta, the owner of Instagram, stated that they collaborate with UK banks and law enforcement to address scams and curb criminal activity. TikTok reported that, by spring 2024, it had removed 95.9% of videos that violated its fraud and scam policies before they were even reported. Snap Inc., the parent company of Snapchat, mentioned that it regularly stores suspected illegal content and provides it to authorities upon request.
As always, if an opportunity seems too good to be true, it likely is.
Photo: Alexander Mils/Unsplash
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