The Gibraltar Financial Intelligence Unit (GFIU) has released a new workshop, "Money Mules”, on  its e-learning platform, e-Nexus. 

A statement from the Government follows below:

This comprehensive online workshop is designed to assist financial  professionals in identifying, preventing and addressing the threat of money mule schemes. Money  mules are individuals who are exploited to transfer illicitly obtained funds and present significant  risks to financial institutions and their clients. 

Vulnerable individuals such as the elderly and students are often targeted, recruited and exploited  by criminals. These individuals are approached through various deceptive means, including job  offers, online scams and social media, and are persuaded to transfer illegally obtained funds, often  without fully understanding the implications. The exploitation of these vulnerable persons not only  puts them at risk of being involved in money laundering but also increases the cycle of financial  crime, making education and awareness crucial in protecting these individuals and the integrity of  the financial system. 

Developed by the GFIU, the Money Mules workshop is an essential resource for professionals  within the financial sector, focusing on the critical issue of their activities. The workshop which  offers in-depth knowledge and practical strategies to combat these threats effectively also raises  awareness on the legal consequences of involvement in such activities.  

e-Nexus is part of the GFIU’s outreach programme, Project Nexus, and was launched in October  2020. In January last year, it won the Best Project Achievement award as part of the Public Service  Excellence and Improvement Awards. With over 1,200 users, each e-Nexus workshop contains  engaging multimedia elements, quizzes, interactive exercises and scenario-based learning that are  incorporated to enhance understanding and application in real-world situations. 

Director of the GFIU, Edgar Lopez, said: “Money mule schemes are a significant and growing threat  within international financial centres. Our new e-Nexus workshop reflects our commitment to  providing educational resources that address current challenges and enable financial professionals  to take proactive measures in detecting and preventing financial exploitation."  

The Minister with responsibility for Justice, Trade and Industry, the Hon Nigel Feetham KC MP,  said: “I am happy to see the ongoing and valuable work that is being carried out by GFIU through  their e-Nexus online outreach and engagement initiative and how it is expanding. This initiative is  invaluable in developing understanding and awareness in the public and private sectors of the risks  of different criminal and terrorist typologies, and thereby assisting in combatting these illicit  activities here and abroad.”

The Money Mules workshop is now available on the e-Nexus platform and accessible to all users.  Financial institutions and professionals who have not registered are encouraged to do so and  benefit from this freely available training opportunity. To find out more visit www.gfiu.gov.gi.