Staff Students Gallery Alumni

Parents: "Squares and Deets"

Updated: Fri 10 May 2019   Share: Share on facebookShare on TwitterShare on MySpaceShare by Email

“Squares and Deets” – young people being tricked into money laundering via social media ads to “get rich quick.”

According to the UK Fraud Prevention service Cifas, the number of so-called "misuse of facility" frauds involving people under 21 has almost doubled in the last year. Cifas' assistant director Sandra Peaston explains "Some of them are as young as 13 or 14, and essentially they're responding to adverts that they see on social media, on video sharing sites, which are offering money in exchange for moving money through their bank account. This targeting of young people as “money mules” is known as “Deets and Squares” (a “deet” being your bank details, a “square” being a bank card) or “square drop” - the name for the process where a “mule” allows money to be moved through their account in exchange for a “cut” being left as a payment.

Cifas are clear that the money being laundered this way is criminally gained, via drugs, people trafficking, terrorism or modern slavery. Teenagers are being targeted via social media, as vulnerable bank account owners more likely to respond to adverts, and less likely to call for help should they need to. Prosecution for “money mules” including those who are minors includes everything from “blacklisting” across major banks to imprisonment, with a maximum term of 14 years. We are also concerned that responding to these ads or becoming involved, gives criminals direct access to young people and advise parents to be vigilant to this form of abuse.

NatWest recently issued useful advise for parents via twitter – they suggest parents have conversations about “money mule” scams with their children as part of conversations around internet safety and financial safety. They have developed an info sheet for young people which can be found here which you may wish to look at with your child (click the pdf below to view)

The Bulmershe School remains committed to educating our students on all matters of their safety and as such this issue will be covered in an age appropriate manner, in upcoming assemblies.

For more information, please contact Mrs J Vinton, Inclusion Manager.

For more hints and tips for being safe online click here

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