New figures show that over €7m was laundered through money mule accounts in the 12 months to June 2026.
The figures are from FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI).
A money mule is someone who allows their bank account to be used to receive and transfer stolen money or other proceeds of crime, helping criminals to launder those funds, often in return for money or an expensive gift.
FraudSMART members have found that the majority of identified money mule accounts belong to people aged 18 to 34, with some cases involving children as young as 14.
Today’s research also reveals that 44% of 18–34-year-olds say they have been approached, or know someone who has been approached, to use their bank account to transfer money, a jump from 24% in the previous survey in 2025.
More than one in three 18–34-year-olds would consider allowing their account to be used in this way in exchange for payment, it also reveals.
BPFI said the majority of adults were aware of the possible serious consequences of money muling.
But awareness was lowest among 18–24-year-olds with 31% unaware they could end up with a criminal record, while 40% were unaware that money muling could affect their ability to obtain an international travel or work visa.
Niamh Davenport, Head of Financial Crime, BPFI, said that money mule recruiters are targeting people of all ages but particularly young adults, through social media, messaging apps, fake job advertisements and peer-to-peer contact.
“Approaches are often disguised as legitimate opportunities with offers of so-called ‘quick’ or ‘easy’ money in exchange for allowing funds to pass through their bank account,” Ms Davenport said.
“These tactics are deliberately designed to appear low-risk, but the consequences can be very serious,” she cautioned.
She said today’s research shows that these approaches are becoming increasingly widespread.
“Of particular concern is that more than one in three 18–34-year-olds would consider allowing their account to be used in exchange for payment despite the potential serious consequences,” she added.
She also said that money muling is far from a victimless crime.
“Individuals who allow their bank accounts to be used to transfer or receive criminal funds are helping organised crime groups to hide and move the proceeds of illegal activity,” she stated.
“Anyone tempted by the promise of easy money should understand that the consequences can be severe, including a criminal conviction for money laundering, imprisonment and long-term impacts on future employment opportunities, access to financial services and international travel,” she added.
She said that anyone who has been approached should contact their bank and report the matter to An Garda Síochána.
