​Land seized in Clare after investigation into organised criminal gang - Agriland.ie

1.  Summary

• The Criminal Assets Bureau (CAB) seized a house, 20-stable livery yard, and 18.35 acres of land in Clare as part of an investigation into an organized criminal gang in the Munster region.
• The assets were linked to a suspect whose criminal activities funded the property purchase.
• Court orders under the Proceeds of Crime Act were issued in 2016 and later in 2024.
• Evidence revealed €223,500 in criminal funds was used to buy the property in 2012.
• A money laundering scheme involving Irish and Spanish bank accounts was dismantled during the investigation.

2.  What’s interesting

• The most notable aspect of this case for AML professionals is the effective use of the Proceeds of Crime Act and the Criminal Assets Bureau’s approach to tracing criminal funds used to purchase property.
• The investigation revealed a complex money laundering scheme involving cross-border transactions through Irish and Spanish bank accounts.
• This demonstrates the importance of monitoring property acquisitions and bank account movements, as well as the effectiveness of leveraging legal frameworks to disrupt organized crime operations and recover assets

Source:
​https://www.agriland.ie/farming-news/land-seized-in-clare-after-investigation-into-organised-criminal-gang/

What happened?

A man has been arrested after being identified as a suspected money mule herder following the search of a residence in West Tallaght, Dublin.

Gardaí from the Garda National Economic Crime Bureau (GNECB) carried out a search at the property as part of a larger investigation into incidents of fraud in Norway, Germany, the US, Hawaii and Ireland.

The investigation also looked into the subsequent laundering of money through money mule accounts, businesses, and trade-based money laundering operations.

"Up to 50 different money mules have been identified as having laundered over €196,000 through his bank accounts in Ireland, Germany and Belgium," a Garda spokesperson said.

"This money came from victims of mainly smishing frauds in Ireland, was initially laundered through these 50 money mule accounts and then forwarded by the money mules to the suspects' three bank accounts."

During the course of the search, a number of items, including a "high value" Range Rover, which was suspected to have been purchased with the proceeds of crime, were seized.

The following items were also seized:

• A number of passports;
• Bank cards in family names and names of suspected money mules;
• Bank account details;
• Details of registered companies and businesses;
• Cash in euros and dollars;
• A note teller (cash counting machine);
• 30 mobile phones;
• A desktop computer and laptop.

Source: ​https://www.irishexaminer.com/news/courtandcrime/arid-41205400.html

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Man charged over €6.5m cryptocurrency seizure in Dublin [August 8, 2024]

​1. Summary

• A man has appeared in court following the seizure of €6.5m (£5.6m) worth of cryptocurrency in County Dublin.
• The seizure was part of an investigation into the sale of illegal material on darknet markets and money laundering.
• The 23-year-old man is facing three counts of money laundering.
• Det Garda Ciaran Byrne from the GNCCB told the court that the suspect had been cautioned and arrested at Kevin Street Garda station, and had made no reply to the charges.
• The three money laundering charges are that on dates between March 2021 and September 2022 that he concealed and disguised the nature and source of 42 separate Binance transactions to the value of more than €34,000, knowing them to be the proceeds of criminal activity.
• Another charge relates to more than €22,000 worth of Wirex transactions whilst the final charge relates to the concealment of more than 1,800 Revolut transactions worth more than €227,000, knowing they were the proceeds of criminal conduct on dates between February 2021 and June 2024.
• The suspect was released on bail and is due to appear again in court on 3 October.

Written by a www.MoneyLaundering.ie Guest Contributor
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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

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:

1. VASP: 23,843 (35% of total)
2. Bank: 19,161(28% of total)
3. Credit Union: 4,007 (6% of total)

Download the Report here: ​https://fiu-ireland.ie/public_documents/strs_received.pdf