Money Matters

Financial Guidance Blog | University of Northampton

Money dangers – Don’t be a money mule!

‘Fancy some easy money – with no strings attached?’

If you’re in the red and looking for easy ways to make money, you could be in danger of becoming a money mule.

What’s a money mule?

A money mule is someone who agrees to receive money into their bank account and transfer it to another account on behalf of someone else (while keeping some for themselves). This is a type of money laundering – which is a crime.

Am I at risk?

You might be at risk if you’re struggling financially and looking for ways to make money. Students are often targeted by fraudsters hoping to recruit money mules. You can be approached either online or in person. Often fraudsters will post a job advert which looks genuine, but then you are asked for your bank details before you start. Beware of any job which offers large financial rewards for little work – if it looks too good to be true, it usually is!

Being a money mule can have serious implications for your future credit status – your bank account can be closed, and you might be refused further bank accounts, phone contracts, and loans. Depending upon the circumstances, you might be given a criminal record, and could even end up in prison!

What can I do?

To find out more about the dangers of becoming a money mule, see the Financial Fraud Action website . Remember that you can report any suspicious incidents to Action Fraud .

How can I (legally) make money?

To find genuine work opportunities, contact Unitemps , who are based at the Platform (Student Union).

Our blog has several useful posts about increasing your income and reducing your spending, including How to increase your income, Make small changes to save money, and Mend your spending habits.

Apply for additional funding from the University

If you’re struggling financially, you may be eligible to apply for additional funding such as the Financial Assistance Fund or EU Hardship Fund (eligibility criteria apply) – if you’re offered an award, you usually won’t be expected to pay it back.

Ask for help if you’re worried

Whether you’re worried about money or you have other concerns, help is available from Student Information Desk, Student Support and Advice team and/ or Students Union if you feel things are getting on top of you. If you would like further guidance on money matters, you can contact us through this blog or by email, phone, or come to a Drop-in.

AdviceBank accountsIncomeMoneyMoney advicemoney dangersPart-time workStudent adviceStudent moneyWork

Victoria Bull • December 10, 2018


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