A third of Gen Z risk unknowingly becoming money mules

• 35 per cent of Gen Z would consider moving money for someone they don’t know if offered a fee, while 71 per cent are unaware money muling could result in a criminal record
• Barclays’ proprietary data shows Gen Z reports of SMS scams have increased 63 per cent since 2023 – with fraudsters using direct contact to appear more credible
• Almost half of Gen Z has been targeted by a job scam or know someone who has
• Three fifths of young people targeted by a job scam are now more cautious about job hunting as a result
• The Barclays Scams Bulletin tracks scam trends across personal and business accounts, with expert advice from Barclays digital safety specialists

New data from the latest Barclays Scams Bulletin shows scammers are turning to SMS and messaging apps to target Gen Z victims, as 71 per cent of students say scams are on the rise. Two of the biggest threats are fake job offers and “money mule” recruitment schemes, which are often closely linked. The Bank is sharing advice to help students protect their money and stay safe online as the new university term gets underway.

The growing threat of job scams

New research from Barclays shows that almost half (48 per cent) of Gen Z adults (aged 18-24) have been targeted by a job scam or know someone who has, making this the most cited scam type for this age group alongside identity impersonation (48 per cent).

Job scammers often promise high pay for minimal effort, before asking victims for upfront payments for “training” or “equipment”, stealing personal details, or tricking them into laundering money.

Three in five (60 per cent) young people said the job scammer made contact via text or messaging apps. Barclays’ proprietary data shows Gen Z reports of SMS scams have increased 63 per cent since 2023 and have accounted for 15 per cent of overall claims so far this year – demonstrating fraudsters are increasingly making use of direct, personal channels. Younger generations’ higher screen time makes them particularly susceptible to mobile and online scams, with social media remaining as the greatest source of reported scams by Gen Z, at 59 per cent.

Of the 14 per cent of Gen Z targeted personally by a job scam, 63 per cent agree the experience has made them more cautious about job hunting. Almost half (48 per cent) say they have been put off applying for remote jobs – making them hesitant to apply for certain graduate roles or respond to genuine opportunities. Yet few who are targeted speak up: only 31 per cent reported it to their bank, and just 23 per cent told a family member.

As scammers make use of text, mobile and social channels, students believe tech companies have a vital role to play in shutting down criminal activity online. Seven in 10 (72 per cent) believe these companies should be doing more to prevent scammers exploiting their platforms.

Kirsty Adams, Fraud & Scams Expert at Barclays, says: “Students are facing real financial pressure, and criminals exploit that anxiety with offers that look professional and promise quick cash. If you’re asked to pay upfront, share personal details, or the job sounds too good to be true, there’s a good chance it’s a scam. Always take time to check before you respond.”

Money mule misunderstanding

In some cases, fake job offers can be a front for “money mule” recruitment schemes, where criminals target individuals – often younger generations – with offers of easy money to “process payments” or “transfer funds” through their bank account. Adverts for roles like “online reviewer”, ‘too good to be true’ offers from cool companies, or direct messages disguised as requests for help should all raise red flags.

Barclays’ research shows that 35 per cent of Gen Z would consider moving money for someone they don’t know if offered a fee, and 14 per cent say they would be “very likely” to do so.

Such approaches can appear harmless to students balancing rent, bills and part-time work in a cost-of-living squeeze, but the risks must not be underestimated. Seven in 10 (71 per cent) young people are unaware that acting as a money mule could lead to a criminal record, while 72 per cent don’t know their bank account could be closed as a result.

Of the Gen Z respondents at risk of unwittingly becoming a money mule, a quarter (23 per cent) say they wouldn’t tell anyone what had happened due to embarrassment. This suggests that the stigma around falling victim to fraud and scams and under-reporting remains a major challenge.

Kirsty Adams adds: “Acting as a money mule isn’t a harmless favour – it’s a serious crime that can lead to a criminal record, frozen bank accounts and long-term financial damage. My advice to any young person who receives an approach of this nature is to think carefully before agreeing to move money for someone else. It’s simply not worth the consequence.”

Kirsty Adams shares her SAFE guidelines to help job seekers stay alert and avoid falling victim to employment scams.

S – Stop and research
Pause before applying or sharing personal details. Check the company’s official website, verify the recruiter’s email address, and look for reviews or warnings online. A few minutes of research can save you from identity theft or financial loss.

A – Ask someone you trust
Before sending documents or paying any fees, speak to a friend, family member, or career adviser. They might spot red flags you missed.

F – Flag unrealistic offers
Be cautious of jobs that promise very high pay for little work, or roles that don’t require experience but offer big rewards. If it sounds too good to be true, it probably is.

E – Ensure secure processes
Legitimate employers will never ask for upfront payments for training, equipment, or background checks. Always use official application portals and avoid sharing sensitive information like bank details until you’re certain the job is genuine.

For more information and advice on how to stay protected from fraud and scams, visit: barclays.co.uk/scams.

Notes 

Unless otherwise specified, the scams figures in this release are based on Barclays business and current account customer data from January 2023 – August 2025.

The consumer research was carried out between 23^rd – 26^th September 2025 by Opinium on behalf of Barclays. There were 2,000 UK respondents, providing a representative sample of this group by gender and region. An additional survey of Gen Z adults (aged 18-28 year olds) was carried out between 23^rd – 30^th September by Opinium on behalf of Barclays. There were 500 UK Gen Z respondents, providing a representative sample of this group gender and region.

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