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Ross Morrison McGill founded @TeacherToolkit in 2007, and today, he is one of the ‘most followed educators’on social media in the world. In 2015, he was nominated as one of the ‘500 Most Influential People in Britain’ by The Sunday Times as a result of…
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Could your students be unknowingly caught up in financial crime?
Money muling is a problem among young people, and criminals are actively targeting students through social media and in-person. Primary and secondary schools have a vital role to play in raising awareness and protecting students from this kind of exploitation.
In the current government’s curriculum review, a report reveals that 43 per cent of parents want their children to be taught financial literacy. This resonates as a teacher; I once had a student who suddenly started wearing designer trainers and boasting about “easy money.” When I asked where it came from, they shrugged. Only now have I realised they may have been recruited as a money mule—something I wish I had known more about at the time.
What is Money muling?
Money muling, also known more commonly as money laundering, is when criminals use other people’s bank accounts to receive and send on illegal funds in exchange for a cut of the money or a gift. This may seem like an easy way to earn cash, but it is a serious crime with potentially long-term consequences.
According to UK Finance and Cifas, criminals increasingly use social media to target students, luring them with promises of fast cash for very little effort.
Many young people, particularly those with special educational needs and disabilities (SEND), may not realise they are being recruited and once they are involved with the criminals, it can be very difficult to stop.
Schools and colleges need to be proactive in equipping students with financial literacy and awareness to prevent them from being exploited in this way.
UK Finance’s Don’t Be Fooled campaign offers free PSHE resources to help teachers educate students on recognising and avoiding money mule scams. These resources are designed for students in key stage 2 and 3 and include lesson plans, assemblies, posters, and cross-curricular activities.
Teachers can access them at www.DontBeFooled.org.uk
Understanding the risks
People who allow their bank account to be used for money muling can suffer financial and legal consequences, including difficulty securing student loans, mobile contracts, or even employment when they leave school. Worse still, the money being received and sent on is often linked to serious crimes such as terrorism, drug trafficking, and people smuggling to name but a few.
Why schools must act now
SEND students may be particularly vulnerable due to cognitive or communication challenges. Criminals exploit their trust and lack of financial awareness, making it essential that schools provide targeted education. Over 30,000 students, including those with SEND, have been educated with the resources to date, demonstrating the demand for high-quality materials on this issue.
Beyond individual students, the issue impacts school safeguarding policies. The UK government’s statutory guidance, Keeping Children Safe in Education, stresses that financial exploitation is a growing concern. Schools must ensure that staff, students, and parents are informed about the signs of financial abuse and take steps to prevent students from being drawn into these scams.
Teachers can incorporate Don’t Be Fooled resources into their PSHE lessons, assemblies, and safeguarding policies. The materials cover:
- Identifying risks: Helping students recognise suspicious offers of easy money.
- Real-life case studies: Providing students with examples of how money mules are recruited.
- Financial responsibility: Teaching students the long-term consequences of illegal activity.
Take action in the classroom
For students, lessons can be adapted to provide clearer explanations using visual aids and structured activities. The Young Enterprise Financial Education Quality Mark ensures that the materials meet high educational standards.
Schools can also engage parents by sending home leaflets and information on spotting the warning signs. A whole-school approach, involving safeguarding leads, form tutors, and PSHE coordinators, will reinforce the message and protect students from falling into these scams.
“Criminals are exploiting young people through money muling – robbing them of their confidence and in some cases their future opportunities. Schools play a crucial role in safeguarding students from financial crime, and free PSHE resources are available to support teachers in this mission.” – Sarah Sinden, UK Finance.
Download the free resources now at www.dontbefooled.org.uk.
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