Detective Chief Superintendent Patrick Lordan told the Irish Independent that as many as “several hundred students” could be involved in a “spider’s web” of fraudulent activity.

According to An Garda Síochána, students are being approached online and offered money to allow fraudsters to use their accounts for money laundering.

Det Chief Supt Lordan said: “We’ve seen one student do it two or three times, so they know what they’re doing. And they are now getting into trouble. Some have been charged and more will be charged.

“Custodial sentences are now in the frame. Because without a money mule, this fraud often doesn’t work. It’s like drug trafficking.”

He added: “These students are committing offences. This can have a permanent effect on your life.”