“Money Mule Crimes Double in Cork, Students are an Easy Target”, Says the Police

According to police investigations, the number of money mule activities in Cork city has doubled in the past year, with one account utilized to transfer EUR 50,000.

Analysis of the 34 incidents that happened to date this year shows that almost half of the money mules under investigation were aged between 17 and 23 years.

Sergeant Brian McSweeney, the crime prevention officer for Cork city garda division, said that there were 18 such cases last year, a significant spike from three in 2019. However, the smallest sum of money transferred this year was EUR 500 and the biggest was EUR 50,000.

Money mules permit criminals to utilize their bank accounts for money laundering. The money is usually gained from illicit activities. While mules are often not aware of the criminals using their accounts, Gardai said money mules are complicit by assisting money launderers. 

Sergeant McSweeney said: “Students are often targeted by organized crime gangs to act as money mules, laundering thousands of euros through their accounts in exchange for a few hundred euros. Anti-money laundering legislation is designed to prevent Organized Crime Gang members from opening up accounts so they need money mules to launder their money. Students are an easy target for these ‘money herders’. They are often approached online, on campus, or while out socializing”.

He advised: “If you agree to allow your account to be used in this way you are committing the offense of money laundering. Money laundering is a serious offense which on conviction carries a maximum penalty of 14 years imprisonment and/or an unlimited fine.” 

Gardai cooperated with the financial firms to curb money mules, and a special operation called Adverb is currently in action. Under this, the banking sector will be obliged to notify law enforcement bodies about money laundering activities or suspicious transitions.

Sergeant McSweeney said: “If you do partake in this type of criminal activity you will be apprehended and the consequences could be life-changing for any young person who is thinking they are making an easy few euros by getting involved. Do not be that money mule.” 

Last week, David Sheehan, a 23-year-old student was sentenced to six months in prison after she was found guilty under Section 7 of Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. 

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