Gardaí in Blanchardstown and the Garda National Economic Crime Bureau (GNECB) arrested a male, aged in his 30s, yesterday as part of Operation SKEIN.
In a statement, a Garda spokesperson said: “The man was arrested for offences contrary to Section 72 of the Criminal Justice Act, 2006.
“He is suspected of laundering approximately €60,000 from two international invoice redirect frauds.
“The man is currently detained under Section 50 of the Criminal Justice Act, 2007 in Blanchardstown Garda Station.
“He can be detained for up to seven days.”
Operation SKEIN is an investigation into international BEC/Invoice redirect fraud being committed from Ireland, and the laundering of the proceeds through accounts here.
It is estimated that this criminal organisation have stolen over €18 million worldwide in invoice redirect frauds/BEC frauds with the vast majority laundered through bank accounts in Ireland.
Investigations are ongoing.