Photo by Children as young as 15 are being recruited as money mules - some without even realising it.
FraudSMART is warning students against delving into criminality as the new college semester begins.
€17.5 million was transferred illegally through mule accounts in the first half of 2023.
It represents a rise of almost 50 per cent according to FraudSMART.
Most accounts belonged to those aged between 18 and 24 - college-aged students.
But, accounts were detected from those ages as young as 15.
Ronan Murphy of Smart Tech 24/7 explains what a money mule is:
"It's a scenario where people, often without knowing it, have been recruited as money launderers or intermediaries, where they're transferring funds for criminals.
So they're taking money into their bank account. After they receive the money, they're asked to withdraw it and send it to a different account."
Students are being warned to be vigilant and not accept money from strangers even as a favour.
Students should know that if they engage in this, and they are convicted it could mean you may never get to go to America, Australia or similar countries.
It can also affect your chances of getting loans or future employment.
