Crime bosses setting up garages to launder cash

THE country’s top crime bosses are setting up sham backstreet garages to launder the proceeds of crime and drug trafficking.

The Criminal Assets Bureau (CAB) says millions of euro are being laundered in assets such as high-performance cars and motorbikes.

“It’s a new development sought out by criminals in order to avoid the Criminal Assets Bureau finding their assets,” said CAB boss Chief Superintendent Felix McKenna. “It has been identified in a number of cases. Major gangs here in the city are controlling them to conceal their cash.”