Gardaí have arrested five men in Cork, Tipperary, Roscommon and Westmeath as part of an investigation into invoice redirection fraud.
This morning, officers attached to the Garda National Economic Crime Bureau (GNECB) made four of the arrests following a number of planned searches carried out in Cork, Tipperary, and Roscommon.
The four arrested men, aged from 23 years to 35 years, were arrested for offences pursuant to Section 72, Criminal Justice Act, 2006.
They are currently detained at Middleton, Fermoy, Mallow, and Tipperary garda stations under Section 50, Criminal Justice Act, 2007.
This evening, a fifth man, who is aged in his 20s, was arrested in Westmeath.
He is currently detained under Section 50 of the Criminal Justice Act, 2007 in Castlerea Garda Station, where he can be detained for up to seven days.
Four of today's arrests were made under Operation BOXPLOT — an initiative targeting a criminal organisation based in the North Cork area.
This group is believed to be laundering the proceeds of international invoice re-direct fraud through bank accounts in Ireland.
The other man was arrested under Operation SKEIN, which targets another criminal organisation based in Ireland involved in similar international, criminal activity.
To date, 17 people have been arrested as part of Operation SKEIN and five persons have been arrested under Operation BOXPLOT.
Gardaí said their investigations are ongoing.