LIMERICK and District Credit Union teamed up with Limerick Gardaí to educate young people about the perils of money muling.
A money mule is a person who allows their account to be used to launder illegally obtained money. Mules may be contacted on social media or by a friend who tells them that they can earn easy money by handing over their bank card or details for a couple of days. Typically, when this person checks their account, they will see money has been lodged and transferred straight out. Often they will be left with “earnings” for themselves.
In Ireland, the prevalence of this crime has been steadily increasing. In the first six months of 2023, €17.5m passed through money mule accounts.
Armed with these sobering statistics, Caroline Long, CEO of Limerick and District Credit Union, and Crime Prevention Officer Sergeant Ber Leetch embarked on a series of presentations across Limerick schools.
During presentations in St Clements College, Ardscoil Rís, and Villiers School, students were provided with valuable insights into the tactics used by criminals to recruit money mules, as well as the severe legal consequences that accompany involvement in such activities. Real-life case studies and cautionary tales were shared, illustrating the devastating impact that falling prey to these schemes can have on individuals’ futures.
This conviction can have serious adverse effects on those involved, including in the areas of; applications for visas for the USA, Australia, Canada, including J1 visas; having your name placed on the international terrorist list for life; negative impacts on future applications for mortgages and loans; impacts on job applications for several careers including jobs in finance.
The presentations are aimed to empower school-aged teenagers with the knowledge to recognise and resist the temptations of becoming unwitting participants in illicit financial schemes.
