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BUSAN, South Korea--(BUSINESS WIRE)--Aug 18, 2023--

Teenagers often like to have the latest gadgets and trainers, but if a young person suddenly has the ability to splash cash around, with no obvious explanation for their wealth, it could be a warning sign of money muling. Money muling happens when people are persuaded to let cash flow through their bank account in exchange for money or gifts – and young people in particular may be targeted. According to figures released by UK Finance and the fraud prevention body Cifas, young people under the age of 21 account for around one in five cases where money muling activity is suspected. While money muling may be seen as an opportunity to make some easy cash, it’s actually a criminal offence. The cash flowing through bank accounts is often the proceeds from crime. UK Finance and Cifas run a campaign called Don’t Be Fooled, which has developed free PSHE (personal, social, health and economic education) resources for schools, to help young people learn about the dangers and consequences of becoming a money mule. The new schools programme is aimed at youngsters aged 10 to 14. To find out more about the dangers of money muling – and the warning signs for parents to look out for – I asked Paul Maskall, manager of fraud and cybercrime prevention at UK Finance, for his expert insights: How can parents talk to children and teenagers about money mule activity and explain what it is? Paul says: “Even at the best of times, we aren’t always good at valuing and protecting our data, personal information or private details which we store digitally.” He says it’s important for parents to explain what money mules are, “to ensure that the newer generation have a better understanding of how to protect themselves.” He continues: “By doing so, it gives them more of an intuitive defence and understanding of the risk of people wanting to exploit them and gain access to their account, for the purposes of laundering money.” How can young people themselves avoid getting involved in money muling? Maskall stresses the importance of keeping accounts and personal information private. He says: “Criminals seek to manipulate you with a promise of gifts, rewards or a percentage of the funds sent through your account.” People should avoid opening a bank account in their name for someone else, allowing their bank account to be used to send and receive funds for other people, or sharing PINs and passcodes, he says. While criminals will often seek out younger people to become money mules, it’s also important to remember that anyone can be targeted, he adds. What are the warning signs that your child could be involved? “Tell-tale signs that your child might be involved in money muling could be them suddenly having extra cash, buying expensive new clothes or top-of-the-range mobile phones and gadgets with very little explanation as to how they got the money,” Maskall explains. “They may also become more secretive, withdrawn or appear stressed sometimes, becoming more fixated on communication and phone usage.” What are the consequences of money mule activity? Some people may see requests to pass money through their account as harmless – but they could be making a big mistake. “Criminals need money mules to launder the profits of their crimes and frequently target young people, who are often unaware of the consequences of them agreeing to do so,” says Maskall. “Allowing a bank account to be used in this way is a crime and can result in a criminal record and the account being closed. “You could go to prison for up to 14 years and it can also lead to the individual finding it difficult to obtain mobile phone contracts or access financial products and credit, including student loans.” What should parents do if they think their child or someone else they know might be involved in money muling? “It’s important for parents and guardians to remind their children of the potential approaches that they may receive from criminals,” says Maskall. He says if any parents or guardians are worried that someone they are close to might be caught up in money muling, they can contact Crimestoppers anonymously on 0800 555 111. Where can parents go to get support or seek further information and how can communities stay safe? Maskall says: “We encourage everyone to visit the Don’t Be Fooled website for more information on the risk of money muling and how to stop the signs. www.moneymules.co.uk. “It is important to remember that anyone can be at risk and speaking openly and educating one another about the harm and risks involved will benefit others.” Read More From tofu chicken wings to chickpea bacon – how and why you should be making plant-based meat at home Holly Willoughby channels Gwyneth Paltrow with ‘orgasm anxiety’ blog post Do it for the Gram: Speedy but spectacular goat’s cheese linguine Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live

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Felipe Massa’s lawyers have started legal action against Formula 1 and the FIA over the 2008 F1 title loss to Lewis Hamilton, seeking substantial damages following that year’s “Crashgate” scandal and a subsequent alleged “conspiracy.” Brazilian driver Massa, then racing for Ferrari, missed out on the 2008 title by a single point in dramatic circumstances at the final race in Brazil as Hamilton – then driving for McLaren - claimed the point he needed on the final lap in wet conditions. Yet new comments earlier this year, by former F1 supremo Bernie Ecclestone, about the infamous ‘Crashgate’ scandal in Singapore that season has encouraged Massa to assess all his potential options regarding compensation and perhaps overturning the result. While the latter is not currently possible under FIA regulations, a formal eight-page ‘Letter Before Claim’ was sent to F1 boss Stefano Domenicali and FIA president Mohammed Ben Sulayem on Tuesday from London-based Enyo Law, as reported by Reuters. The firm, acting on Massa’s behalf, alleges that the 42-year-old has been “the victim of a conspiracy committed by individuals at the highest level of F1 together with the FIA and Formula One management.” It adds that Massa has lost out on tens of millions of euros in lost earnings and bonuses as a result of Crashgate and missing out on the 2008 title. Crashgate rocked the sport when the inaugural Singapore Grand Prix saw Renault’s Fernando Alonso win the race before it emerged that his team-mate Nelson Piquet Jr. had deliberately crashed to bring out a safety car that played into Alonso’s hands. That safety car prompted a Massa pit stop that Ferrari mishandled, with Massa eventually finishing the race 13th while Hamilton came home third – a difference of six points, a swing which ultimately impacted the title result. While Renault and team boss Flavio Briatore were punished in 2009, the result of the race stood despite Massa’s protestations, with the FIA’s statues making clear that overturning the classification from each season is impossible once the FIA Awards Ceremony for that year is complete, a rule set in the FIA International Sporting Code. Ecclestone revealed in March that both he and then-FIA president Max Mosley knew of the Crashgate scandal in 2008, but refused to publicise the chain of events to avoid the sport a “huge scandal.” The letter from Massa’s lawyers, sent to F1 and FIA, states: "Simply put, Mr Massa is the rightful 2008 Driver’s Champion, and F1 and FIA deliberately ignored the misconduct that cheated him out of that title. "Mr Massa is unable to fully quantify his losses at this stage but estimates that they are likely to exceed tens of millions of Euros. "This amount does not cover the serious moral and reputational losses suffered by Mr Massa.” F1 did not provide an immediate response to Reuters, while the FIA acknowledged receipt of “correspondence” from Massa’s lawyers and added: “The matter is under review and we will not be providing comment at this stage.” The Independent has contacted Formula 1 for comment. Ecclestone, however, told Reuters he could not remember saying the key lines. "I don’t remember any of this, to be honest,” said the 92-year-old. "I don’t remember giving the interview for sure." Massa, speaking in Miami in May, called the situation an “injustice.” “You fight them to the last corner of the last race, pass the chequered flag as the champion and then everything changed,” he told Sky Sports. “For sure, a fight on the track. “Then you discover what has happened in Singapore. People, important people like Bernie [Ecclestone], like Max Mosley, like Charlie Whiting - they knew in 2008 and they didn’t do anything. “That is really a massive surprise for me. It’s really [an] injustice and I think definitely we need to study everything that happened because it’s not fair what has happened.” The new furore surrounding the 2008 title was triggered after Ecclestone told F1-Insider earlier this year: “We decided not to do anything for now. We wanted to protect the sport and save it from a huge scandal. That’s why I used angelic tongues to persuade my former driver Nelson Piquet to keep calm for the time being. “Back then, there was a rule that a world championship classification after the FIA ​​awards ceremony at the end of the year was untouchable. So Hamilton was presented with the trophy and everything was fine. “We had enough information in time to investigate the matter. According to the statutes, we should have cancelled the race in Singapore under these conditions. “That means it would never have happened for the championship standings. And then Felipe Massa would have become world champion and not Lewis Hamilton.” Massa’s lawyers added that the Brazilian wants “recognition that, but for those unlawful acts, he would have been awarded the 2008 Championship” – adding that they will “commence legal proceedings in the English courts” if a suitable response is not received within 14 days. Despite the start of legal action, Massa is not able to officially overturn the result – with the FIA’s own International Sporting Code stating protests and reviews expire 14 days after a competition and four days prior to that year’s prize giving ceremony. He also cannot use the Court of Arbitration for Sport (CAS), which has no jurisdiction over the FIA on issues like this, with the independent International Court of Appeal the highest authority in the sport. CAS may only be involved in F1 matters relating to the FIA’s Anti-Doping Disciplinary Committee. Massa’s best-finish in F1 turned out to be that 2008 season as he retired in 2017 while Hamilton has gone on to win six more titles with Mercedes, holding the joint-record of seven F1 World Championships with Michael Schumacher. Read More F1 2023 mid-season awards: Best driver, worst race and biggest surprise Lewis Hamilton’s 2008 F1 title still under threat as Felipe Massa bemoans ‘injustice’ Is a bright Ferrari future being hampered by the past? Flavio Briatore: The ego who landed... with a crash

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