Criminals have laundered €12 million through Irish bank accounts so far this year using "money mules".
Up to 1,000 transactions were carried out since January, with young people increasingly being targeted, according to the Banking and Payments Federation.
It's launching a new campaign to raise awareness about the practice, which involves moving stolen funds through legitimate bank accounts.
Arrests
Meanwhile Gardaí say 30 people have been arrested so far as part of Operation Ransom, which is targeting the illegal practice.
Officers say the youngest person arrested was 15 and that over half of those detained were under 18.
Gardaí say young people are being targeted by organised crime groups in secondary schools, college, online, and via social media.
"Most people are advised they will receive a percentage if they authorise the use of the account and see the chance to make easy and quick money."
"However, in many instances, the organised crime group will clear the person's account once the ATM card or pin number has been handed over and there is no monetary gain for the money mule."
Those convicted face prison sentences of up to 14 years, they could be placed on terrorist watch lists and it may affect their ability to work in the financial sector.
