Featured Ireland

FBI concerned over laundering risks in private equity, hedge funds – leaked document

The U.S. Federal Bureau of Investigation believes firms in the nearly $10-trillion private investment funds industry are being used as vehicles for laundering money at scale, according to a leaked intelligence bulletin prepared by the agency in May. “Threat actors” — including criminals in it for the money and foreign… Read More

How fraudsters used lockdown to lure Irish victims into boats and caravans scam

With three decades in construction under his belt and his family almost reared, Philip Doyle dared to dream a little during the lockdown period. A recreational diver in his spare time and already part-owner of a small boat, he decided he would invest in a larger vessel of his own. Read More

Ireland: How criminals clean their dirty money

‘Money laundering is modern-day alchemy. You take cash earned from criminal activity, put it through a system designed to obliterate any trail of its origins, and then bring it out the other end as legitimate income,” said Jeffrey Robinson, author of The Laundrymen, a seminal book on the subject. Money… Read More
25th June 2020
Just under two years ago gardaí became inundated with requests for assistance from police forces in Europe all telling a similar story. Somebody in a European country had made a purchase online – from a luxury watch to a caravan, tractor or classic car – but they had not… Read More
22nd June 2020
A senior associate of the Kinahan cartel has been charged with 30 money laundering offences relating to bank accounts he held in his own name over a five-year period. Jonathan Harding (48), who is currently serving a lengthy jail term over a major weapons seizure linked to the crime gang,… Read More
16th June 2020
The Irish government has asked authorities in America and the UK to use their political influence to help gardai pursue international drug trafficker Daniel Kinahan, who has become a big-time promoter in professional boxing. The move is part of a diplomatic strategy to build a “coalition” of governments and international… Read More
8th May 2020
Gardaí have discovered evidence that Covid-19 payments are being abused by Dublin-based fraudsters involved in money laundering as a part of a wider European network of criminals. Two men have been arrested as part of a Garda inquiry into “money-mule” bank accounts. This is the use by criminals of third… Read More
4th May 2020
Pressure is mounting on the Central Bank of Ireland to further delay the enforcement of new EU regulations aimed at making online payments more secure. The Banking and Payments Federation of Ireland (BPFI) said it was worried about possible disruptions as online retailers upgrade their payments systems to comply… Read More
27th April 2020
The owner of Matchbook, a betting exchange operated by the Cork-based technology firm Xanadu Consultancy, has been fined £740,000 (€845,000) over “serious failings” with its approach to measures including stopping money laundering. Triplebet, a Guernsey-based firm which owns Matchbook’s UK licence, received the fine following an investigation by the Gambling… Read More
17th April 2020
By Will Neal, OCCRP, 16 April 2020 OCCRP — With coronavirus cramping the usual activities of gangsters, organized crime is increasingly going online, experts said on Thursday, following the bust of a group attempting to sell millions of non-existent masks to German health authorities. Europol announced this week that authorities… Read More
15th April 2020
An Irish man in Roscommon is being questioned as part of an international investigation into a “sophisticated” €15 million Covid-19 personal protective equipment financial scam. Members of the Garda National Economic Crime Bureau and gardaí from Co Roscommon interviewed an Irish citizen on Friday, April 10th, over the suspected… Read More
11th March 2020
Ireland should be fined €1.5m for having failed to fully adopt anti-money laundering rules whose absence could weaken the EU’s fight against criminal activity, including the financing of terrorism, a senior legal adviser to the European Court of Justice has argued. While the relevant directive has now been transposed into… Read More
2nd March 2020
Almost 24,000 reports of suspected money laundering or terrorist financing were reported to the Irish authorities in 2018. New figures published by the justice department show that 23,939 reports of suspicious financial transactions were made to gardaí in 2018, a decrease of almost 2 per cent on the previous year. Read More