As stated by CosMedics UK, it is completely safe to pluck or shave the hair coming out of a mole. Hair removal in this fashion does not cause the cellular damage required to cause cancer to form, so doing so does not cause or increase the risk of cancer.
According to WebMD, moles themselves should be evaluated regularly for any abnormalities. This includes asymmetry (where one half doesn't match the other half), possessing a ragged border, being multicolored or black or blue, being greater in diameter than a pencil eraser, or rapidly changing over time. A mole with any of these symptoms requires medical evaluation.