Gardaí are appealing to the public and particularly younger people, not to let anyone else use their bank account and beware of becoming a "Money Mule".
The warning follows an arrest made in West Cork last week in relation to suspected money laundering.
The man, aged in early 20s, is believed to have allowed a large quantity of cash be lodged and transferred using his account. He was detained under Section 4 of the Criminal Justice Act and later released. A file will be prepared for the Director of Public Prosecutions.
A Money Mule is often a young person, recruited by criminals to help launder stolen or illegal money - often unwittingly. They're enticed by the promise of earning a "quick buck" in exchange for their bank account details, often laundering thousands of euro to make a few hundred.
Anti-money laundering legislation has prevented organised gang members to open bank accounts, leaving them to prey on young people and students. "Easy-targets" are often approached online, on campus or while out socialising and although they might not be aware that they are breaking the law, money mules are complicit in the crime and could face up to 14 years in prison.
Gardai are warning young people to not let anyone use their bank account and to remember; if it sounds too good to be true, it most likely is. They are also asking people to report to the Gardaí if they are approached to facilitate in this crime.