Man arrested in investigation into laundering of up to €9 million in Ireland
The criminal organisation have stolen over €14 million worldwide in invoice redirect frauds.
Gardaí attached to the Garda National Economic Crime Bureau (GNECB) have arrested a 32-year-old male in Balbriggan, Dublin on Wednesday 2 June in relation to an offence of directing a criminal organisation.
The man is also suspected to be involved in the recruitment of money mules and the laundering of the proceeds of crime through multiple bank accounts, Gardaí confirmed in a statement on Wednesday.
During the course of the arrest, a large amount of potential evidence was seized including phones, laptops, bank cards and other documents.
The man is currently being detained under the provisions of Section 50 of the Criminal Justice Act, 2007 at Balbriggan Garda Station and can be detained for up to 7 days.
The arrest was made in relation to an offence of directing a criminal organisation, contrary to Section 71A of the amended Criminal Justice Act, 2006.
This arrest is the third person arrested for directing the criminal organisation.
It is known now that this criminal organisation have stolen over €14 million worldwide in invoice redirect frauds.
At least €8 to €9 million of this money has been laundered through the bank accounts of gang members and money mules all over Ireland.
A money mule is a person who transfers illegally obtained money between different payment accounts, very often in different countries, on behalf of others.
Money mules are also recruited by criminals to receive money into their bank account, in order to withdraw the money and in most cases wire it overseas, receiving a commission payment in return for the provided services.
Details on money mules and advice from An Garda Síochána can be found here.