Money mules allow cash to enter their account to send on to others, often with financial incentives. Even without knowing they are doing so, they may be partaking in money laundering and therefore, breaking the law.

You can be approached in person or online, with perpetrators often being criminals or part of gangs seeking to ‘clean’ money through multiple transactions. They often target those they feel would be the easiest to manipulate, which is often older and younger people.

This is particularly worrisome for parents, as young children can easily be recruited into this, given 44% of those aged 13-24 admit they would consider letting someone use their account if offered money, while 11% would unknowingly become a money mule – transferring money from their account to others after someone has sent it on to them.

According to new research from the Nationwide Building Society, 20% worry about their financial situation and 77% wish they had more money to buy the things they want, without having to ask their parents for money.

Shappi Khorsandi, bestselling author and British comic, is a mother of two and has partnered with the building society to educate the nation’s parents about these perils, not only to protect themselves but to pass on knowledge and telltale signs to their children.

Shappi herself has been a victim of fraud and has spoken to her children about protecting their finances.

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