Money Laundering Prevention Feature

Detective Inspector Mel Smyth from the Garda National Economic Crime Bureau was in studio warning the public against allowing themselves become what is commonly known as a “Money Mule”.  Detective Inspector Smyth explained that “Money mules” can be any age and that in recent times students at third level are targeted. While typically the age profile are generally teenagers/early twenties, it is not uncommon for secondary school children - some as young as 14/15,and adults have been lured by the promise of making quick, easy money. 

In the last year there has been a huge growth in this crime.  A prospective offender, “mule “gets a Smishing text  from an automated account and it continues from there.  Once the money has been lodged into their (the ‘mule’) account, it is quickly moved on to other account (s) sometimes in Ireland and sometimes abroad, effectively laundering the cash. This money is funding organised crime and international organized crime groups.  

What being a money mule means: 

• Your home searched by Gardaí – your parents, siblings, neighbours, friends seeing this happening
• You being arrested – remember it’s your bank account / your passport used to open it / probably you on CCTV withdrawing it – you will be arrested
• You being fingerprinted, photographed and having your DNA taken and put on the database
• You may have to appear in Court – this could be reported on and your photograph appearing in the newspapers / online
• Having your bank account closed and banks won’t entertain any new applications
• Getting a conviction under the Money Laundering & Terrorism Financing Act 2010
• Facing a potential prison sentence of 14 years
• Risk being placed on terrorist watch lists
• Risk being refused a visa to work in US, Australia, middle east etc
• Risk having your future credit rating affected
• Risk finding it difficult getting students loans, ordinary loans, overdrafts and even mortgages
• Could even find it difficulty getting a phone contract
• Risk affecting your ability to find employment in the future
• Risk affecting future vetting applications especially if wanting to work with charities, sports clubs, any job with responsibility 

Remember,

• you are enhancing the capability of international criminal organisations to commit other crimes, to fund terrorism, to traffic people, drugs and guns
• the organised crime group wont honour its promises
• The drug debt you might owe won’t be written off
• You won’t get a percentage
• They won’t return your cards
• The money coming into your account is stolen from a victim / company somewhere
• By you allowing your account to be used you are committing money laundering
• You will be identified as its your account, your ID used, your address used, possibly you on CCTV 

Advice for parents / teachers :

• Be able to spot the tell-tale signs
• Know what bank accounts your child has opened – bank accounts can be opened online from their bedrooms
• Ensure their children don’t give their bank account details to anyone they don’t know
• Educate their children on the dangers / ramifications of being a money mule and getting convicted
• Educate them to be wary of unsolicited offers of easy money – there is no easy money – if it sounds too good to be true then it usually is
• Look out for child suddenly having more cash, buying expensive clothes, electronics with no explanation of where they got the money
• Be alert to changes in their behaviour – a young person involved may become more secretive, withdrawn, stressed, have new ‘friends’ whose full names they don’t know
• Teachers need to be alert to the people in their classes / schools recruiting money mules 

Gardaí at Garda National Economic Crime Bureau investigating