Amounts moved typically ranged between €5,000 and €10,000 per case according to FraudSmart
Money mules are usually approached by recruiters and asked to allow their accounts be used for a transaction in exchange for a fee of a few hundred euros. Photograph: iStock
The data, published by FraudSmart, the fraud awareness initiative led by Banking and Payments Federation Ireland , show almost 9,000 money mule cases over the same period.
Awareness of the consequences of the activity was lower among 18- to 24-year-olds compared with older age groups. BPFI head of financial crime Niamh Davenport said criminals are increasingly targeting teenagers and young adults through social media adverts and messages to recruit them as money mules in exchange for money or gifts. “It is worrying,” she said.
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