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20240731 - Man jailed for role in organised crime group involved in money laundering and drug trafficking

31/7/2024

Written by a www.MoneyLaundering.ie Guest Contributor
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1. Summary

A man has been jailed for eight-and-a-half years for his role in an organised crime group involved in international money laundering and drug trafficking.
The suspect was sentenced to 13-and-a-half years in prison, with the final five years suspended, after he pleaded guilty to assisting or facilitating the criminal organisation's activities between April 29th, 2021 and February 4th, 2022.
Dublin Circuit Criminal Court heard that gardaí investigating the suspect organised crime group discovered an electronic ledger detailing transactions of over €924,000 over an eight-month period between June 2021 and January 2022.
In a ruling on Wednesday, Judge Martin Nolan said there was no doubt that the suspect was involved at a high level in a serious criminal organisation involved in dealing and distributing drugs and laundering large amounts of money. “It's a profitable organisation, and he's important to them,” said the judge.

2. What’s interesting

Large Financial Transactions: The discovery of an electronic ledger detailing transactions of over €924,000 over an eight-month period is noteworthy. It indicates a substantial volume of money laundering activity and provides concrete evidence of the scale of the operations.
Link to Drug Trafficking): The involvement in both money laundering and drug trafficking illustrates the intersection of financial crimes with narcotics operations, emphasizing the complexity and reach of organized crime.

Source:

https://www.breakingnews.ie/ireland/man-jailed-for-role-in-organised-crime-group-involved-in-money-laundering-and-drug-trafficking-1656648.html
https://www.independent.ie/irish-news/courts/dublin-man-jailed-for-over-8-years-for-role-in-drug-trafficking-and-money-laundering-crime-group/a899372991.html

16/7/2024

Written by a www.MoneyLaundering.ie Guest Contributor
Subscribe to our news service at HERE

1. Summary

Gardaí have arrested 63 people as part of an operation with Interpol across 21 countries around the world.
17 people have been charged, while two cars have been seized, as well as €49,000 worth of goods believed to have been bought with stolen or laundered money.
17 bank accounts have been blocked under suspicion of being opened under false names.
37 searches were carried out, with 11 phones seized.
€81,133 and $260,953 in cryptocurrency were also seized.
Gardaí from Dublin, Kerry, Laois, Tipperary, and Galway were involved.

2. What’s interesting

Multiple Countries Involved: The operation spans 21 countries, which might indicate an international money laundering scheme or complex financial networks.
Seizure of Goods and Cash: The seizure of €49,000 worth of goods and significant amounts of cryptocurrency (€81,133 and $260,953) suggests that illicit funds were being used for purchases and investments. This might indicate the laundering of large amounts of money.
Blocked Bank Accounts: The blocking of 17 bank accounts under suspicion of being opened under false names points to possible identity fraud and efforts to conceal the true ownership and origins of funds.

Source
https://www.breakingnews.ie/ireland/63-people-arrested-in-operation-with-gardai-and-interpol-1650689.html

1/7/2024

Written by a www.MoneyLaundering.ie Guest Contributor
Subscribe to our news service at HERE

Headline: 46% increase in total number of STRs reported to the FIU in Ireland in 2023 with total of 68,988
Largest increase in reporting attributed to VASPs with total number of reports outstripping banks in 2023.
Top 3 reporting entities as follows: