FraudSMART is appealing to parents to warn their children of the dangers of money muling.
€5 million worth of 'money mule' transactions moved through Irish bank accounts in the first half of the year.
The Irish Banking and Payments Federation says most of the over 700 incidents involved 18 to 24 year-olds.
It comes after five people, aged in their late teens and 20s, were arrested in Longford earlier this week on suspicion of acting as and recruiting money mules.
FraudSMART is renewing its appeal to parents to warn their children of the dangers of money muling.
BPFI Chief Executive, Brian Hayes says young people face long-term consequences if they take part:
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