“Giving your bank details to someone you don’t know is like throwing money into a black hole” – Comment from Shieldpay on Cifas

New research has been published by Cifas on the number of people who are being lured into becoming “money mules”.

Tom Clementson, Director of Consumer at secure payment solution, Shieldpay, said: “Giving your bank details to someone you don’t know, especially when their intentions are suspect, is like throwing money into a black hole. It’s alarming to see so many different types of fraud becoming increasingly prevalent. So-called ‘money mules’ are unlikely to know what they are involved in but all too often if something does look too good to be true, it is. Anyone who thinks they may have been victim of fraud, or are at risk, should report it to the Police or Action Fraud straight away.

“It’s crucial that banks adopt increasingly sophisticated technology, like Shieldpay, that safeguards consumers from such crimes and prevents people’s hard-earned money lining the pockets of the fraudsters.”