Officers attached to the Garda National Economic Crime Bureau (GNECB) have arrested a man as part of an investigation into a €1.1m invoice redirection fraud.
The man, who is aged in his 20s, was arrested earlier this morning as part of Operation PARADE - a GNECB investigation into the theft of funds from a Dublin-based company in November of last year.
The company in question received an email purportedly from a trading company informing them that their bank account was changed along with instructions to send their money to a new bank account.
Gardaí said that, in co-operation with fraud investigators working for various banks, they have been able to recover roughly €1m of the stolen money from several different bank accounts.
Two arrests have been made as part of Operation Parade thus far - On February 10, another man, also aged in his 20s was arrested in Lucan.
He was released without charge and a file is being prepared for submission to the Director of Public Prosecutions (DPP).
The man arrested today is currently being held for questioning at Naas Garda station under the provisions of Section 50 of the Criminal Justice Act 2007.
He can be held for up to seven days. Gardaí said their investigations are ongoing.