Students heading back to college are being warned of the risks of becoming money mules.
New FraudSMART figures show a 50% rise in the use of money mule accounts for money laundering.
More than €17 million was funnelled through 2,600 money mule accounts here in the first six months of the year.
Most of the accounts belonged to those aged between 18 and 24, with some as young as 15, often targeted by gangs through social media ads and messages, with some
Banking and Payments Federation Head of Financial Crime, Niamh Davenport says students and young people need to avoid delving into this sort of criminality.
" It's not a harmless crime. It's not a victimless crime.
"The money that you are transferring is being used to fund human trafficking, drug trafficking, and organised crime.
"You have to be cautious around it - don't be lured into it. The ramifications are really huge for an individual.
"You're talking about seven years in prison. Prosecution means that you've no visa for travel, whether it's to the States or to Australia or the like.
"You also won't be able to apply for car loans or student loans and you'll have difficulty getting jobs in the future".
