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17th July 2020

Romania, Ireland fined by EU top court over anti-money laundering rules

The European Union’s top court fined on Thursday Romania and Ireland for delays and incomplete application of the bloc’s rules against money laundering and terrorist financing, it said in a statement. Romania was ordered to pay to the European Commission a lump sum of 3 million euros, while Ireland was… Read More

16th July 2020

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

8th July 2020

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

7th July 2020

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

How gardaí uncovered a massive fraud network based in Ireland

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

Ireland: Kinahan cartel associate charged with money laundering

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

FBI and DEA in US and UK authorities called on to help snare Daniel Kinahan

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 move against fraudsters engaged in Covid-19 scam

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

Central Bank of Ireland faces calls to further delay new rules on online payments

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

Matchbook owner fined £740,000 over anti-money laundering failures

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

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