Over €7 million was laundered through money mule accounts in the 12 months to June 2026, according to figures by FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI). New 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 sharp increase on 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.

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. While people of any age can be targeted by money mule recruiters, 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.

New research conducted by FraudSMART reveals that: 

Significant number of young adults would consider money muling

• 37% of 18–24-year-olds and 35% of 25–34-year-olds say they would consider allowing their account to be used to transfer money in exchange for payment.
• Across all adults surveyed, men are almost twice as likely as women to say they would consider allowing their account to be used to transfer money (20% compared with 12%).

Growing numbers report being approached

• Overall, one in five (21%) adults say they have been approached, or know someone who has been approached, by another person looking to use their bank account to transfer money, up from 13% in 2025.
• 45% of 18–24-year-olds say they have either been approached themselves or know someone who has been approached, unchanged from 2025, while the figure for 25–34-year-olds has more than doubled, from 20% to 43%.

Awareness of serious consequences lowest among young people

• Overall, the majority of adults were aware of the possible serious consequences of money muling.
• However, awareness was lowest among 18–24-year-olds with almost one third (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.

Young people are being targeted with offers of ‘easy’ money

Niamh Davenport, Head of Financial Crime, BPFI, said: “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. These tactics are deliberately designed to appear low-risk, but the consequences can be very serious. FraudSMART members reported over €7 million laundered through money mule accounts in the 12 months to June 2026. Anyone who agrees to move money through their account can become involved in laundering funds for criminal gangs and face a criminal record and possible prison sentence.” She continued: “Today’s research shows that these approaches are becoming increasingly widespread. One in five adults in Ireland say they have either been approached themselves or know someone who has, up from 13% in 2025. Among 18–34-year-olds, the figure jumped from 24% to 44%. 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.”

FraudSMART warns of serious consequences, including a criminal record and prison sentence

Commenting on the serious consequences of money muling, Ms Davenport, added: “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. 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. We are urging young people in particular to be aware of these risks and never allow another person to use their bank account. Anyone who has been approached should contact their bank and report the matter to An Garda Síochána.”

Students often face significant financial pressures, making offers of easy money appear tempting

Highlighting the particular risks for third-level students, Daniel Walsh, President, AMLÉ, formerly the Union of Students in Ireland, said: “Students and young adults often face significant financial pressures, making offers of quick or easy money appear tempting. However, allowing someone else to use your bank account can have consequences that extend far beyond the initial payment, including a criminal record and serious implications for your education, travel and future career. We are encouraging students to speak to their Students’ Union, their bank or An Garda Síochána if they are concerned about an approach they have received.”

Top things to look out for to avoid falling victim to money mule recruiters:

• Be wary of approaches offering quick or easy money, particularly through social media or messaging apps.
• Do not accept any job offers that ask you to use your own bank account to transfer money.
• Never allow your account to be used to receive or transfer money for someone else.
• Never open a new bank account in your name for another person to use.
• If you are approached, do not engage. Contact your bank and report the approach to An Garda Síochána.

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.