Fraudstorytelling | Weekly filmtips | November 18, 2021
Title: The Rise of Money Launderers on Snapchat and Instagram | Crimewave
Duration: 14 minutes
Year: 2021
Producer: VICE
Link: https://www.fraudstorytelling.com/movies/the-rise-of-money-launderers-on-snapchat-and-instagram-crimewave/
Tagging: #moneylaundering, #financialmarkets
Gangs are always looking for new ways to launder their money, and in cities like London, Birmingham and Manchester, using money mules has become one of their favorite methods. Young and vulnerable people are convinced by criminals, often on social media, to let them use their personal bank accounts to receive and send on their illicit earnings. However, there can be serious consequences for those who get involved, from being locked out of the financial system, to even serving time in prison. This crime is still massively under-reported, which in part is what leaves many young people so vulnerable. VICE investigates this new and booming form of crime and meets the recruiters, the police, and people who have inadvertently got caught up in it.
Making money quickly without having to do anything is an illusion. Yet criminals often know how to reach young people with attractive messages via social media. The promises are usually too good to be true, but young people still fall for them, with all the negative consequences that entails. In this short but powerful documentary, VICE shows why this target group is so attractive to criminals and how they make good use of the ignorance surrounding the subject of money mules.
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