Gardaí have arrested two men they believe used card reading devices inserted into ATMs to clone credit cards.
Intelligence reports received by An Garda Síochána recently from the UK indicated that a group was operating in Ireland.
On Thursday last, gardaí from Pearse St identified two men on Bedford Lane, Dublin 2 who they believed to be involved in this activity.
One of the men attempted to conceal a wallet that contained seven bank cards which have been identified as cloned fraudulent cards. A search of the second man's wallet also found five fraudulent cards.
Both men in their 30s were arrested and taken to Pearse St Garda Station.
A BMW SUV was searched in a follow-up operation and 13 fraudulent credit cards were located along with expensive designer clothing and a number of receipts for other expensive goods believed to have been purchased using cloned credit cards in the Dublin City area.
A search of a flat in the city was also conducted and a number of documents were seized.
Subsequent searches were carried out in Tyrellstown, the Navan Road and Prussia Street which uncovered 41 fraudulent bank cards along with re-encoding devices, a quantity of Cocaine (subject to analysis), a weighing scales and approximately €2,000 in cash.
Valuable assistance and advice were given by Gardaí attached to the Garda National Economic Crime Bureau (GNECB) in relation to this investigation and in total 66 fraudulent credit cards were seized.
This investigation will continue with assistance from our specialist Garda national units together with Europol and other European Police forces.
One man appeared before the Criminal Courts of Justice yesterday and was remanded in custody. The second man is expected to appear this morning.
Investigations are continuing.