Big growth in money mules accounts

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 18 September 2021

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Four energy companies go bust in a fortnight. Gas and electricity prices set to rise by 12% for millions of customers. And there are warnings of energy shortages this winter. What can consumers do to protect themselves?

There has been a rapid growth in the number of young people who appear to be laundering money through their bank accounts for criminals.

And a bank offering special deals for students turns down one eighteen year old because her credit score is only ‘good’.

Presenter: Paul Lewis Researcher: Anita Langary Reporter: Dan Whitworth Production co-ordinator: Janet Staples Series producer: Alex Lewis Editor: Emma Rippon

Transcript

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0:00.0	You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one.
0:06.5	I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds.
0:11.2	I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects,
0:16.0	relationships, identity, comedy, even one that mixes poetry, music and inner city life.
0:22.4	So one day I'll be helping host develop their ideas, the next fact-checking, a feature,
0:28.3	and the next looking at how a podcast connects with its audience, and maybe that's you.
0:33.6	So if you like this podcast, check out some others on BBC Sounds.
0:39.5	BBC Sounds, music, radio, podcasts.
0:43.2	Hello, welcome to this Moneybox podcast.
0:45.9	There's been a rapid growth this year in the number of young people who appear to be laundering money for criminals.
0:51.7	And a bank offering special deals for students turns down one 18-year-old
0:55.9	because her credit score is only good. But first, turmoil in the energy markets. Crisis is the
1:03.3	word in many newspapers and websites this morning. Another half a million homes are without an
1:08.0	energy supplier this week after two companies, people's energy and utility point, both went bust on Tuesday. Five have gone in the last few weeks. A revised cap on prices in two weeks' time will add nearly £140 to a typical annual direct debit bill and even more for those on prepay metres. But as you heard in the news, with wholesale
1:28.7	gas prices having soared, quadrupling in a year, experts warn this is just the start.
1:35.7	Ellen Fraser is an energy expert and partner at Beringa consultants. Ellen Fraser, why is there
1:41.7	this crisis in the energy markets?
1:52.5	Yeah, it's always basically an equation that balances supply and demand.
1:56.9	And as we all come out of the pandemic and the economy starts to pick up again,
1:59.1	our consumption of energy is increasing.
2:01.8	Similarly, as we enter the winter period, we're all starting to put our heating on. So, you know, the demand from a residential property
2:06.6	standpoint for normal customers is increasing as well. So those two factors are increasing on
	...

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