Man, 30s, arrested on suspicion of laundering €60,000

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Gardaí from the Garda National Economic Crime Bureau arrested a man on suspicion of money laundering.

The arrest was made yesterday as part of Operation SKEIN.

The man, aged in his 30s, is suspected of laundering approximately €60,000 from two international invoice redirect frauds.

The man is currently being detained in Blanchardstown Garda Station where he can be held for up to seven days.

Operation SKEIN is an investigation into international BEC/Invoice redirect fraud being committed from Ireland and the laundering of the proceeds through accounts here.

It's estimated that criminal organisations have stolen over €18 million worldwide in invoice redirect frauds and BEC frauds with the vast majority laundered through bank accounts in Ireland.