Students have been warned not to allow their bank accounts to be used to transfer money on behalf of criminals as to do so is committing the offence of money laundering.
Gardai are investigating a €2m fraud involving “Money Mules” – people who transfer money illegally on behalf of others.
The probe, led by the Garda National Economic Crime Bureau (GNECB), is believed to involve some 200 “Money Mule” accounts which have transferred funds which are the proceeds of a multi-million euro fraud.
Gardai say the accounts used and which are now being investigated are from across the country and were used for single transactions ranging from £5,000 to £35,000. The ‘complex’ investigation is being undertaken with the assistance of Europol, the Banking & Payments Federation of Ireland (BPFI) and the relevant financial institutions where the “money mule” accounts are held.
Read the original article here: irishexaminer.com
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