Warning to students not to fall victim to criminals looking to launder their ill-gotten gains
The North East Regional Economic Crime Team (RECU) is warning students not to fall victim to criminals looking to launder their ill-gotten gains.
Unscrupulous criminals will often target students in particular to give them access to their bank account. The criminal then deposits money in it in return for a small percentage of the money or designer clothing or other expensive goods.
The money will be from criminal activity and is being laundered. But the account holder will often find themselves facing proceedings themselves once the criminal activity is discovered. At the very least they will find it extremely difficult to open another bank account.