As students across the country settle into the university year, ANZ, together with strategic research and training partner Griffith University, is urging students and young people to remain alert to a rise in so-called "quick‑cash" money mule scams.
Criminal groups are increasingly targeting students - particularly those living away from home or studying internationally - both online and in person, offering easy payments in exchange for access to bank accounts or identity documents. The Australian Federal Police (AFP) has previously flagged this tactic as a growing threat to Australians.
According to the AFP, organised crime syndicates are offering several hundred dollars - sometimes with additional commission - for the use of bank accounts. Identity documents such as passports and driver licences are also being sought so criminals can open fraudulent accounts in victims' names.
ANZ's Customer Protection team reports that students (around 9%) and unemployed customers (approximately 23%) accounted for one-third of scam/fraud fund recipients between September 2025 and March 2026. In that time, ANZ's mule detection technology proactively identified ~4,000 high-risk accounts to be further investigated.
ANZ Senior Manager, Complex Investigations, Marc Broome, said: "Scammers are deliberately targeting young people who may be financially vulnerable or unfamiliar with Australian laws. Selling or 'loaning' your bank account or identity puts you at risk of being linked to money laundering and other crimes."
ANZ has observed increasingly brazen approaches, with scammers contacting students via social media platforms, messaging apps, and even in person near university campuses and student accommodation.
Griffith University scam expert Associate Professor Jacqueline Drew said: "Students are targeted as money mules in many different ways, often without realising what's happening. This can range from fake job offers to investment scams that promise high returns. Cybercriminals can be highly organised, patient, and skilled at building trust.
"If you think you may have been caught up in a money mule scam, it's vital to report it as soon as possible. If you have been unknowingly tricked and caught up in a scheme, coming forward does not mean that you will be in trouble. Instead, it helps banks, law enforcement, and government agencies prevent you and others being further exploited by these criminals."
Mr Broome added: "These tactics may seem harmless on the surface, but the impact can be severe and long-lasting. We're urging all students to protect themselves by never sharing their bank account details or identity documents, and by rejecting any request to receive or transfer money on behalf of someone else.
