“Text Promises £1,000 in 90 Minutes – Experts Warn of Hidden Money Laundering Risk”

What would you think if a text promised £1,000 a day for just 90 minutes of work—from home? It sounds too good to be true… because it is.

Experts warn these messages are often used to recruit “money mules”—people who move money through their bank accounts for criminals, sometimes keeping a small amount for themselves. Doing so can lead to serious fraud charges.

The Financial Conduct Authority reported 207,889 cases of money muling in 2024, with 61% involving people under 30. Criminals use texts, social media, and online chats to lure victims, ruining lives in the process.

Molly (not her real name) shared her experience. In 2023, after being promised guidance on crypto trading, she was pressured to transfer £900 and withdraw another £900 in cash. Her account was frozen, she was marked on the National Fraud Database, lost her job, and her chances of buying a home vanished.

Banks and fraud experts warn that legitimate companies will never ask you to move money through your account. Students are particularly vulnerable, often targeted through social media during times of financial pressure.

Fraud awareness campaigns in schools and universities aim to educate young people about the dangers. Experts urge everyone to be cautious: if an online job offer sounds too good to be true, it probably is.