Almost €9.4 million was laundered through money mule accounts in the 12 months to H1 2025, according to new figures released today by FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI). While the amounts moved through these accounts vary, they typically range between €5,000 and €10,000 per case. The publication of today’s figures come as FraudSMART, with support from AMLÉ (formerly the Union of Students Ireland or USI), launches the ‘Don’t be a mule’ campaign.
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. While people of any age are susceptible to becoming a money mule, FraudSMART members have found that 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.
New research conducted by FraudSMART reveals that:
— Almost a third (30%) of 18–24-year-olds reported that they, or someone they know, have been approached to use their bank account to transfer money.
— One in four (27%) 18–24-year-olds admitted they would be likely to consider using their bank account to transfer money on behalf of someone else, in exchange for keeping some of the money.
— 47% of 18–24-year-olds said they had never heard of the term money mule and 52% 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. 26% are unaware that it could help fund other criminal activity, 31% are unaware that they would be committing a money laundering offence, 35% do not understand they could face jail time, and 42% are unaware it could affect their ability to obtain international travel or work visas.
— 60% of parents of teenagers surveyed said they have not discussed the risks of money muling with their children.
Young people are being recruited through social media adverts promising ‘easy’ money
Niamh Davenport, Head of Financial Crime, BPFI said:
“Criminals are increasingly using social media to target teenagers and young adults, luring them with cash or gifts to act as money mules. Alarmingly, our research shows that nearly one in three (30%) people aged 18–24 have either been approached themselves or know someone who has been asked to move money through their bank account.
Even more concerning, more than one in four (27%) of this age group admit they would be willing to transfer money on behalf of someone else in exchange for keeping a share of the 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.
An Garda Síochána warns about serious consequences of money muling
Michael Cryan, Detective Superintendent at the Garda National Economic Crime Bureau stated:
“It’s vital that young people realise this is far from a ‘victimless’ crime and the consequences of taking part are severe. This is money laundering and the funds moved by money mules are linked to criminal activity, often stolen from innocent people through scams such as text message and email scams. Even more alarming, these funds frequently go on to bankroll other serious crimes including terrorism, drug trafficking, human trafficking and pay the bribes that corrupt people the world over.
Money mules are recruited by Transnational Criminal Organisations and money mules enhance their capability to commit serious crimes. 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.”
FraudSMART, with support from AMLÉ (formerly the Union of Students Ireland) and in partnership with Sole Mates running club, highlighted the dangers and consequences of money muling at a special ‘Red Flag Run’ at the weekend, to raise awareness among young people and students as the college year begins. The event was joined by Ireland’s fastest man, Olympian Israel Olatunde.
Speaking at the event, Emma Monahan, Vice President for Welfare, AMLÉ (formerly Union of Students in Ireland) added:
“The new college term is an exciting time, but it often brings financial pressures – making offers of ‘quick and easy money’ seem tempting. We want students to understand the risks of being coerced or conned into working with fraudsters, which could damage their future ability to get loans or even travel abroad, including to Australia or on a J1. College should be about learning, building friendships and preparing for the future but it can also be expensive, and we urge any student worried about costs or other challenges to reach out to their Students’ Union for advice and support.”
Ms Davenport concluded:
“The FraudSMART Money Mules campaign is an important reminder to students and parents of the risks posed by organised criminal networks online and the serious, long-term consequences of getting involved. Money muling is not just a ‘one-off favour’ — it is money laundering, and it places young people directly in the middle of criminal activity. It’s important to know the warning signs and how to avoid being drawn into money muling and that parents stay alert and have open, practical conversations with their children about this issue.”
Top things to look out for to avoid falling victim to money mule recruiters:
— 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 in order 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.