Criminals have made around 1,000 transactions in other people's bank accounts to launder over 12-million euro since January.
The Banking and Payments Federation says fraudsters are on the hunt for young people to recruit as 'Money Mules'.
It involves moving stolen funds through bank accounts in an attempt to launder the money.
Director of Public Affairs at the BPFI Olivia Buckley says there are grave consequences for those people who engage with the gangs:
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Gardaí Appeal For Information On Missing Teenager From Arklow
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24/7 Ambulance Cover Confirmed To Take Effect In Baltinglass
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€1.6 Million Paid Out In Wicklow To Bring 31 Homes Back Into Use
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St. Patrick's Day Committee In Wicklow Honoured At Council Reception
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8:00pm - 10:00pm
Love Songs on the Coast
Sunny intervals
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Sunny intervals
High: 20°C | Low: 9°C
Sunny intervals
High: 20°C | Low: 8°C
Heavy rain shower
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Light rain shower
High: 23°C | Low: 8°C