Criminals use student accounts to keep stolen money; Garda warned students not to share their account details

Criminals keep stolen money in school and college students’ accounts. Garda warns young people not to share account information.

The Garda arrested 30 people from different parts of the country in connection with the incidents, including 16 teenagers.

The criminals were operating on counterfeit money using their bank accounts. The teens were charged with allowing criminals to deposit and withdraw money.

The Garda, which is investigating the laundering rackets under Operation Ransom, has revealed that €1.5 million have been stolen so far.

Among those arrested were 18 men and 12 women. These range in age from 15 to 38 years.

It is through schools, colleges, online and social media where criminals are targeting teenagers. They are then used for crimes.

Criminals will be offered a share of the money if they are allowed to use their account. However, it is usual for an organised crime group to empty an account after handing over an ATM or PIN card.

The young people who provided the account could face up to 14 years in prison under the Money Laundering and Terrorism Act.

A Garda spokesman warned that people should never authorise any individuals or groups to use their bank account, ATM card or PIN number. The warning was issued following the arrest of so many teenagers.

‘Do not allow anyone to use your bank account. If allowed, and if they are criminals then you will be a part of that. Therefore, caution should be practiced in this regard,” said Garda.

In doing so, more likely to be involved in crime such as money laundering for organised crime groups. The spokesman reminded that arrest and imprisonment are the consequences of that.