Almost €9.4 million laundered through money mule accounts in 12 months
Ellen O'Donoghue
Almost €9.4 million has been laundered through money mule accounts in the 12 months to June 2025.
While the amounts moved through these accounts vary, they typically range between €5,000 and €10,000 per case.
A new survey has shown that almost a third of 18-24-year-olds have been approached, or know someone who has been approached, to use their bank account to transfer money.
The figures have been released by FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI).
One in four (27 per cent) of 18-24 year olds admitted that they would be likely to consider using their bank account to transfer money on behalf of someone else.
Niamh Davenport, head of financial crime at BPFI, said that young people are being recruited through social media adverts promising ‘easy’ money.
“This willingness highlights just how critical it is that we raise awareness of the risk – both in terms of serious criminal consequences and the fact that money is often linked to wider financial crime networks that fuel drugs, human trafficking, and other serious offences,” she said.
An Garda Síochána have warned of serious consequences of money muling, including the risk of a criminal record and prison sentence.
Michael Cryan, Detective Superintendent at the Garda National Economic Crime Bureau, said that it is “vital” for young people to realise money muling is “far from a victimless crime,” and the consequences of taking part are severe.
“Money mules are recruited by Transnational Criminal Organisations and money mules enhance their capability to commit serious crimes,” he said.
“The money mule is a vital cog in the operations of these Transnational Criminal Organisations. That’s why money muling carries such serious penalties, including the risk of a criminal record and prison sentence.”
As the college term starts, FraudSMART have launched a campaign warning students to be alert for money mule recruiters, particularly through social media adverts.
FraudSMART, with support from AMLÉ (formerly the Union of Students Ireland or USI), launched the ‘Don’t be a mule’ campaign on Monday.
A money mule is someone who receives stolen money or proceeds of crime into their bank account and transfers it into another account, often in return for money or an expensive gift.
FraudSMART said they have found that while people of any age are susceptible to becoming a money mule, the majority of money mule bank accounts belong to those aged between 18 and 24 years of age, with some cases involving children as young as 14.
The research released today revealed that 47 per cent of 18–24-year-olds said they had never heard of the term money mule, and 52 per cent said they did not understand what it means.
Awareness of the consequences of money muling is lower among 18-24-year-olds compared to older age groups, the research also revealed, while 26 per cent are unaware that it could help fund other criminal activity.
31 per cent said they are unaware that they would be committing a money laundering offence, 35 per cent do not understand they could face jail time, and 42 per cent are unaware it could affect their ability to obtain international travel or work visas.
Three-fifths of parents of teenagers surveyed said they have not discussed the risks of money muling with their children.
According to FraudSMART, the top things to look out for to avoid falling victim to money mule recruiters are:
- Be very cautious of unsolicited emails or approaches promising opportunities to make easy money, particularly on social media.
- Thoroughly research any work-from-home opportunities and do not get involved unless you are sure the business is legitimate.
- Be particularly cautious of offers from people or companies overseas seeking ‘local/national representatives’ or ‘agents’ to act on their behalf, as it is difficult to verify their legitimacy.
- Do not accept any job offers that ask you to use your own bank account to transfer money.
- Never give your bank account details to anyone unless you know and trust them.
- Never allow your bank account to be used by someone else.
- Never agree to open a new bank account in your own name to receive payments on behalf of a ‘friend’ or criminal.
If you have been approached to act as a money mule or have been a victim of this type of crime, report it to your local Garda Station and contact your bank. More information, alerts and tips can be found on www.fraudsmart.ie.
