20240917 - Cocaine worth €6m seized as Garda investigation targets major Irish crime cartel

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

• Gardaí seized approximately €6 million worth of cocaine in an international crackdown targeting a major Irish crime cartel.
• The operation, involving Europol, the FBI, and other international agencies, targeted a drugs gang based in west Dublin and other criminal figures.
• The investigation disrupted an encrypted communication platform used for drug trafficking, homicides, and money laundering.
• Raids were conducted in Co Wexford and Dublin, leading to several arrests.
• The cartel, though smaller than the Kinahan group, has been a Garda target for decades due to its significant criminal operations.

2.  What’s interesting

• For AML professionals, the most notable aspect of this case is the collaboration between multiple international law enforcement agencies, including Europol and the FBI, to dismantle a communication network used for drug trafficking, homicides, and money laundering.
• It underscores the need for organizations to monitor the use of encrypted platforms and conduct robust due diligence on communication methods that could be exploited by criminal enterprises.
• Additionally, it highlights the value of cross-border cooperation in combatting sophisticated crime cartels with a long history of illicit activity.