Barclays offers Morley students anti-scam advice  

Earlier this month Barclays Bank visited the North Kensington Centre for Skills to brief students on how to avoid being lured into so-called Money Mule money-laundering schemes. 

Young people, especially those aged 17-24,  can find themselves the target of criminals who request to transfer money in and out of a young person’s bank account in return for payments.   This activity is illegal and has potentially serious consequences.   Alice from Barclays Bank explained: 

”We’ve seen a huge increase in young people being targeted with these “money mule” money- laundering schemes… where criminals approach you and ask to transfer money to your account and then transfer it somewhere else.”  

Online threats

“Students could be approached by a love interest, an online friend, someone that they’re gaming with, and they’ll ask them, can you pay this money to your account and give them cash or they’ll transfer money into their account. There’s quite a few different ways that they can approach you.”

“If someone takes part,  they are committing a crime.  In the worst cases you can face up to 14 years in prison,  and have your account bank account blocked for up to seven years. ”  

How to avoid being the victim of scams   

Alice and colleagues briefed Morley students on the steps to take to avoid being sucked into becoming a money mule:

“If someone gives you an offer that’s too good to be true, it usually is. You should always take time to think. So if you receive a message or an offer for an easy way to make money or someone asking if you can just put money into your account, take the time to think about it, speak to a family member, a teacher, a tutor, or a trusted friend, to get their opinion because usually if you have someone else speak to you about it, they’ll notice the signs.  

If you’re emotionally involved, block and report anyone that sends you a message that you think could be potentially a money mule.  So the main thing is don’t go for these money too good to be for true offers. Don’t get involved. ”  

Financial management advice

Alice from Barclays Bank also provided Morley students with advice on managing their finances.   “ We have a fantastic website called Barclays Digital Wings, which is a free platform that anyone can use. It has loads of information on their covering a range of different things about employability, financial literacy, saving, fraud and avoiding scams. It’s free to use.  The earlier you learn about that stuff, the better equipped you will be for your life.”

A broad range of support and advice for 16-18 year olds studying at Morley

Financial management information is part of a range of support and advice offered to 16-18 year olds studying at Morley.  Interim Centre Principal, Fiona Murray, explained,

“Financial management advice from Barclays Bank is part of Morley’s well-developed personal development programme for 16-18 year olds.  This covers a whole range of key advice, including financial literacy, online safety and how to avoid scams, and advice on managing your account.

But the plan also covers key information around personal health and sexual, personal health and social development, and a range of advice around careers and employment. “

You can find out more about the support on offer to students at Morley here.