As part of an ongoing operation by the Garda National Economic Crime Bureau, two males aged 24 and 25 were arrested in Lucan, Co. Dublin today 9th May 2018. Both males are currently detained under the provisions of Section 4 of the Criminal Justice Act 1984 at Lucan Garda Station.
The men arrested are suspected of being part of an organised criminal network involved in international fraud and money laundering activities. A Spanish company was deceived into transferring significant amounts to an Irish Bank Account being operated under a company name by the arrested persons. The vast majority of this money has been recovered.
Additionally, a third male, aged 25 was arrested in Dublin City centre today. He is suspected of deceiving an Irish company into transferring a significant amount to an account he controlled. All of this money has also been recovered. He is currently detained under the provisions of Section 4 of the Criminal Justice Act 1984 at the Bridewell Garda Station
Assistant Commissioner, Special Crime Operations, John O’Driscoll stated
"Today’s arrests by the Garda National Economic Crime Bureau of those involved in the fraudulent theft of money from businesses both here in Ireland and abroad is extremely significant. A quick reaction by An Garda Síochána is critical to success in combatting this type of organised fraud. Today’s operations underline the importance of cooperation between An Garda Síochána, our policing colleagues internationally and financial institutions. It is particularly satisfying to recover money that was stolen and could have resulted in companies, both at home and abroad, going out of business had it not been recovered.”
Garda Press Office
Note: This method of obtaining funds by fraud is commonly referred to as Invoice Re Direct Fraud. (An Invoice Re-Direction Fraud takes place when a criminal impersonates a person /company to whom a legitimate payment is due and deceives the payee into making payment to a fraudulent third party account instead).
