Some insight has been given to the operation of one of the gangs involved in the Drogheda Drugs Feud during a sentence hearing for three women who pleaded guilty to money laundering.

Annie Julia Smith (28), Jade Heeney (27) and Marlena Aleksandrowicz (29) appeared before Dundalk Circuit Court and were remanded on continuing bail to July 30 for finalisation of the case with a warning from Judge Dara Hayes that there is “a strong possibility of custodial sentences”.

The defendants were described as at the lower scale of a money laundering enterprise for the Boylan Organised Crime Group. None of them profited from it. They had no previous convictions.

Keith Boylan was named in court as the alleged head of the Boylan OCG and his brother Josh as the alleged second in command.

Jade Heeney is the former partner of Keith Boylan, while Annie Julia Smith is the former partner of Josh Boylan.
Gda John Walsh testified that Keith Boylan is “identified as the head” of the crime group and Josh Boylan “classed as second in command”.

Ms Heeney, Castlemanor, Ballymakenny, Drogheda; Ms Smith, Candy Lodge, Stamullen Road, Gormanston and Marlena Aleksandrowicz, Bridgefield Northwood, Santry, Dublin 9 Cedar Place, Swords; each admitted one count of money laundering through their respective Revolut accounts which they allowed the gang to use.

Gda Walsh gave evidence that the Boylan OCG was one of two factions in the “so-called Drogheda Feud”.

As part of an investigation into this gang’s activities a large amount of bank and other accounts were probed and each of the three accused were identified as money laundering the proceeds on behalf of the OCG.

Between July 10, 2020 and February 27, 2021, €16,348 went into Marlena Aleksandrowicz’s Revolut account from associates of the OCG and €14,950 was withdrawn.

She was a friend of Hannah O’Connor, Keith Boylan’s partner, and did this as a favour to her.

Following her arrest by arrangement on September 25, 2023, she told Gardaí that she was afraid to say “no”.
"Hannah asked me. I didn’t know her boyfriend.”

Gda Walsh agreed with defence counsel that Ms Aleksandrowicz was “out of her depth”.

Barrister Donough McDonough, instructed by solicitor James Allen, said that she accepted her actions were reckless. She regretted this which had a toll on her and was a constant source of worry.

Born in Poland and an only child, the defendant grew up in Swords. References and a letter of apology were available.

Ms Aleksandrowicz and her partner were looking forward to the birth of their child in October.

Gda Walsh said that between December 20, 2020 and January 31, 2021, €13,033 was transferred by members of the OCG to Jade Heeney’s Revolut account and €12,551.37 withdrawn.

For approximately four years she had been the partner of Keith Boylan. The relationship had ended by the time of this offending.

She had been given €1,000 to put into the account after being directed to download the app and to hand over the card to a person unknown to her.

"I just did it. I wasn’t thinking. I didn’t see the transactions in or out. I shouldn’t have given the card. I was told to,” she told investigators following her arrest on May 26, 2023.

Barrister Ronan O’Carroll, instructed by solicitor James Allen, said that Ms Heeney was still suffering from the effects of the relationship which she ended.

She was under pressure and duress to do this offending.

A fully qualified hair stylist working in Dundalk, she too wrote a letter of apology and had references.

The court heard that between June 17, 2020 and June 3, 2021, associates of the OCG put €8,967.50 into Annie Julia Smith’s Revolut account and withdrew €5,080.

She was the former partner of Josh Boylan between 2018 and December 2020. The relationship ended on bad terms.

Ms Smith was arrested on September 6, 2023 by arrangement.

Barrister Stephen Faulkner, instructed by solicitor Eleanor Kelly, said that she outlined in a letter her shame and embarrassment.

Her offending couldn’t be excused but she was afraid to refuse.

Judge Hayes said that the three defendants were at the “lowest rung” but it was to the benefit of a serious criminal organisation which required the assistance of people to launder their unlawful gains.
​
There was a strong possibility of custodial sentences, the judge continued. He was not saying that will be the outcome. He would consider the submissions. It was a “finely balanced case”.

​The matter was adjourned to July 30.

Source: ​https://www.independent.ie/regionals/louth/news/three-women-admit-money-laundering-for-louth-organised-crime-group/a1495082571.html

Thousands of teenagers in Ireland have been targeted by one of the world’s most violent cyber crime gangs, we can reveal.
​
A special investigation by The Irish Sun today tells how young people — aged between 17 and 22 — have been used by the Black Axe crime gang as part of their efforts to launder €84million through Irish banks.

Those in the sights of the mob include people with addiction issues, individuals who are homeless and those who come from broken homes.

But others include those who have to pay off drug debts, the children of millionaires and top students.
They have blackmailed kids to act as money mules after obtaining intimate images of their targets.
​
The online criminals — classified as ‘master manipulators’ by Gardai — use the “social engineering” tactic by sending a message on a social media app offering their target the chance to earn €500.


Source: https://www.thesun.ie/news/15306774/cyber-crime-gang-thugs-money-garda-arrest/

More than £2.6m of cash has been seized as part of a National Crime Agency (NCA) investigation into suspected money laundering in Newry.

The NCA said after searches of two businesses and two residential properties, a total of £882,695 and €1.055m (£902,000) was recovered by its officers as suspected criminal funds.

It said a further £692,140 and €223,490 (£191,028) had previously been seized by Police Service of Northern Ireland officers, working in partnership with the NCA, "in earlier disruptions".
​
A 26-year-old man from Newry, who was arrested on 19 June, has been bailed as the investigation continues.

Source: ​https://www.bbc.com/news/articles/cy7n0ylk78ko

This is not a typology but a relevant piece of news about the fight against financial crime pursued by the Central Bank of Ireland.

See CompliReg at ​https://complireg.com/blogs--insights/cohort-1-of-central-bank-of-irelands-innovation-sandbox-programme-combatting-financial-crime for detailed blog

​See CompliReg at ​https://complireg.com/blogs--insights/cohort-1-of-central-bank-of-irelands-innovation-sandbox-programme-combatting-financial-crime for detailed blog

​Thank you to our money laundering typology guest contributor who is a senior AFC professional working in Ireland on international financial crime matters.  This person freely gives time to source interesting typologies and analyses them for our visitors. Contact us if you would like to do likewise, whether anonymous or credited.

Trial to go ahead in €355,000 alleged 'romance fraud' case

Summary

• i. A 37-year-old father of three from Dublin, has been sent forward for trial, accused of possessing €355,000 in crime proceeds following a "romance fraud" investigation.
• ii. The charges include acquiring, possessing, using, or converting €255,472 in a Permanent TSB account between February 2017 and February 2020, and an additional offence of possessing or transferring €100,000 at Fire Financial Services LTD in July 2021.
• iii. As part of his bail conditions, the suspect is barred from using dating and matchmaking websites, must reside at his given address, surrender his passport, and not apply for alternative travel documents.

What’s interesting
i. For AML professionals, the following points from this article are particularly notable:

1. Link Between Romance Fraud and Money Laundering: The case highlights how proceeds of romance fraud—a type of social engineering scam—can be funnelled through financial accounts, demonstrating the critical need for financial institutions to detect unusual patterns in account activity linked to such scams.
2. Duration and Complexity of Financial Activity: The alleged offences spanned several years and involved significant amounts of money (€355,000), showcasing how fraud schemes can be long-term and require robust transaction monitoring systems to identify suspicious activity.
3. Non-traditional Financial Institutions: The mention of "Fire Financial Services LTD" underscores the role of fintech and alternative financial service providers in potential laundering activities, emphasizing the importance of enhanced due diligence and risk assessments for such entities.

ii. These points emphasize the importance of vigilance in transaction monitoring, cross-sector collaboration, and public awareness campaigns to prevent and detect such fraud.

Source: ​https://www.irishmirror.ie/news/irish-news/trial-go-ahead-romance-fraud-34433615

​Thank you to our money laundering typology guest contributor who is a senior AFC professional working in Ireland on international financial crime matters.  This person freely gives time to source interesting typologies and analyses them for our visitors. Contact us if you would like to do likewise, whether anonymous or credited.

Bank kept lending to Lynn years after staff raised alarm about solicitor

Summary

• i. Michael Lynn, a former solicitor, is accused of defrauding multiple banks of approximately €27 million by obtaining multiple mortgages on the same properties without the banks' knowledge.
• ii. The trial, which began in January 2025, is expected to last several weeks, with the prosecution presenting evidence of the alleged fraudulent activities.
• iii. Lynn has pleaded not guilty to the charges, and his defence team argues that the banks were aware of the multiple mortgages and that the loans were part of legitimate business transactions.

What’s interesting
i. The case of Michael Lynn presents several points of interest for AML professionals:

1. Exploitation of Lending Practices: The alleged ability to secure multiple mortgages on the same properties highlights potential weaknesses in due diligence and information-sharing practices among financial institutions. AML professionals can draw lessons on the importance of robust interbank communication and verification mechanisms.
2. Risk of Professional Misconduct: Lynn’s position as a solicitor allegedly provided him with the knowledge and means to orchestrate these transactions. This underscores the heightened AML risks associated with professionals in positions of trust and the need for enhanced scrutiny of such individuals.
3. Lack of Robust Controls: The case demonstrates how insufficient or fragmented oversight across institutions can enable large-scale fraud. AML professionals should focus on improving monitoring frameworks to detect anomalies, such as unusual property or mortgage activity, across institutions.

ii. This case is a reminder of the critical role of strong AML and fraud detection systems in protecting financial institutions from high-risk schemes involving trusted professionals.


Source: https://extra.ie/2025/01/05/news/irish-news/bank-lending-michael-lynn

​Thank you to our money laundering typology guest contributor who is a senior AFC professional working in Ireland on international financial crime matters.  This person freely gives time to source interesting typologies and analyses them for our visitors. Contact us if you would like to do likewise, whether anonymous or credited.

Money laundering network run by Russian millionaires and linked to Kinahan gang is exposed
​
Summary
i. A sophisticated money laundering network operated by Russian millionaires was dismantled in a global law enforcement operation. The network was closely linked to the Kinahan crime cartel, a notorious organized crime group, and facilitated laundering billions of euros in illicit funds.
ii. The network's operations centered around two entities, Smart and TGR, which provided services to exchange physical cash for cryptocurrency. This allowed criminals to obscure the origins of the funds effectively, bypassing traditional financial systems and anti-money laundering controls.
iii. The laundering operation had a vast international footprint, making it one of the most complex cases tackled in recent years. The involvement of high-net-worth individuals and cross-border connections highlighted the challenges in combating such networks.
iv. The coordinated efforts led to 84 arrests and the seizure of £20 million (€24 million) in assets in the UK alone. Authorities hailed it as the National Crime Agency's largest money laundering operation of the past decade.
v. The case underscores the evolving techniques criminals use, particularly leveraging cryptocurrencies to bypass scrutiny. It also demonstrates the importance of international collaboration in targeting transnational financial crimes.


What’s interesting
i. The most notable and interesting aspects for AML professionals from this article include:

1. Integration of Cryptocurrency in Money Laundering: The use of cryptocurrency by the network to launder billions highlights the increasing reliance on digital assets to obscure illicit financial flows. This reflects a significant evolution in laundering methods, requiring enhanced vigilance and expertise in blockchain analysis for AML professionals.
2. High-Level Network Sophistication: The network was operated by Russian millionaires and linked to a notorious organized crime group (the Kinahan cartel). This demonstrates the complexity and high-level structuring of modern money laundering operations, which often involve significant resources and cross-border coordination.
3. Scale of Operation and Impact: The laundering network handled billions of euros, showcasing the massive financial scale criminal enterprises can achieve. This emphasizes the importance of robust financial crime detection mechanisms to address large-scale operations effectively.
4. Collaboration as Key to Success: The case underscores the critical role of international law enforcement cooperation. The operation’s success involved coordinated actions across multiple jurisdictions, setting a precedent for future AML efforts to prioritize global collaboration.
5. Asset Seizures and Arrests as Deterrence: With 84 arrests and €24 million seized in the UK alone, the case highlights the effectiveness of asset recovery and legal action as deterrents against organized crime. For AML professionals, this reinforces the value of tracing and freezing assets promptly.

ii. This case is a stark reminder of the need for constant adaptation, training, and the adoption of advanced technologies to stay ahead of evolving criminal methodologies.


Source: https://www.breakingnews.ie/ireland/money-laundering-network-run-by-russian-millionares-and-linked-to-kinahan-gang-is-exposed-1704190.html

Former Ireland hockey player Catriona Carey to face trial on money laundering charges 

Summary

i. Former Irish hockey player Catriona Carey faces 13 charges, including money laundering, theft, and deception, following an investigation into alleged financial crimes.
ii. The charges are connected to a scheme where Carey purportedly offered financial services, falsely claiming to assist individuals in mortgage arrears by securing new loans.
iii. Victims reportedly transferred significant sums to Carey’s company but did not receive the promised services, with the funds instead allegedly diverted for personal use.
iv. Carey appeared in Kilkenny District Court, where she was formally charged, and bail conditions were set, requiring her to sign weekly at a local Garda station.
v. The case has drawn significant attention due to Carey’s profile and the impact on victims, highlighting concerns about financial fraud and enforcement in Ireland.

What’s interesting
i. The case of Catriona Carey is notable for AML professionals due to several key aspects:

1. Misuse of Legitimate Business Structures: Carey’s alleged fraudulent scheme involved the use of a registered financial services company, highlighting how legitimate entities can be exploited for illicit purposes.
2. Money Laundering Implications: The charges include money laundering, which underscores the need for robust systems to detect unusual transaction patterns, even within businesses claiming to provide financial aid.
3. Victim Exploitation: The scheme targeted financially vulnerable individuals, emphasizing the importance of monitoring industries that serve high-risk or distressed customer bases.
4. Detection and Enforcement: The case demonstrates the role of law enforcement and public scrutiny in uncovering such schemes, pointing to gaps in early detection by financial institutions and regulators.
5. Reputational Risk: High-profile individuals involved in financial crime can attract significant public and media attention, reinforcing the need for effective due diligence processes, especially for politically exposed persons (PEPs) and other high-risk categories.

Source: https://www.thejournal.ie/catriona-carey-money-laundering-charges-6562783-Dec2024/

Women charged over money laundering, luxury handbags

Summary
i. A 33-year-old woman appeared in Dún Laoghaire District Court, charged with money laundering offenses involving the handling of cash and luxury handbags.
ii. The charges stem from an investigation into the alleged laundering of proceeds from criminal activities, where high-value items were used to conceal illicit funds.
iii. The court proceedings are part of a broader effort by authorities to combat money laundering and the use of luxury goods to disguise the origins of illegal money.

What’s interesting
i. The most notable or interesting points for AML professionals from this article are:

1. Use of Luxury Goods for Money Laundering: The case highlights the growing trend of using high-value items, such as luxury handbags, to conceal and launder illicit funds. This reinforces the need for enhanced vigilance in monitoring the purchase, sale, and trade of high-value consumer goods.
2. Investigative Focus on Cash Handling: The investigation is centered on the handling of cash, which suggests that physical currency remains a key medium for money laundering despite the rise of digital transactions. This may require further scrutiny of cash-based activities and the potential for layering operations.
3. Increased Scrutiny of Lifestyle Indicators: Authorities are increasingly focusing on the lifestyle of individuals involved in suspected money laundering, using luxury goods as indicators of potential illicit wealth. This reinforces the importance of monitoring financial and asset acquisition patterns in AML compliance programs.
4. Coordination Between Authorities: The case underscores how law enforcement and regulatory bodies are cooperating in tackling money laundering schemes, which may involve cross-jurisdictional efforts and multi-agency collaboration. This could imply the need for enhanced reporting mechanisms and international coordination in AML practices.
5. Rising Trends in Complex Laundering Methods: This case is an example of a complex money laundering method where illicit funds are disguised through the acquisition of luxury goods, signalling a shift toward more sophisticated laundering techniques that may require advanced detection systems.

Source: https://www.rte.ie/news/regional/2024/1127/1483364-women-charged-over-money-laundering-luxury-handbags/

Man stands trial in Tralee accused of money laundering over €90,000

1. Summary

• i. A man in Tralee is standing trial for 17 counts of money laundering involving over €90,000. The charges stem from payments linked to proceeds of invoice redirect fraud—a scheme where fraudsters alter bank account details on invoices, redirecting funds to unauthorized accounts.
• ii. While the individual is not accused of committing the invoice fraud, the money allegedly flowed into his accounts at Ulster Bank, AIB, and Bank of Ireland. The prosecution claims he was either aware of or reckless regarding the illicit origins of the funds.
• iii. The suspect has testified that he was unaware of the fraudulent nature of the funds and that he allowed his cousin from war-torn Cameroon access to his bank accounts, purportedly to help them. The trial involved a detailed examination of banking transactions, emphasizing how financial institutions and law enforcement track suspicious activities and obtain account access via court orders

2. What’s interesting
i. This case serves as a reminder for financial crime professionals to remain vigilant about emerging fraud typologies and maintain strong frameworks for detecting and reporting suspicious activities.
ii. Some key takeaways:

• Invoice Redirect Fraud: This case highlights the risks of fraudulent schemes exploiting invoice payments—a common threat vector in corporate finance.
• Account Monitoring: The use of multiple bank accounts underscores the importance of monitoring unusual patterns across institutions.
• KYC and Beneficial Ownership: The defendant's claim of aiding a relative points to the critical need for robust KYC protocols to uncover indirect beneficiaries of account activity.
• Judicial Collaboration: The use of court orders to access financial records exemplifies the importance of collaboration between banks and law enforcement.

Source: https://www.radiokerry.ie/news/man-stands-trial-in-tralee-accused-of-money-laundering-over-e90000-2-408994