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Gardai arrest three more men as part of an investigation into fraud

Gardaí attached to the Garda National Economic Crime Bureau carried out three searches in the Dublin 2 and Dublin 8 areas

25/11/2020 Gardai conduct a Covid-19 Checkpoint on Chesterfield Avenue opposite the Wellington Monument in the Phoenix Park, Dublin (Image: Collins Agency, Dublin)

 

Gardai have arrested three more men as part of an investigation into fraud.

Gardaí attached to the Garda National Economic Crime Bureau carried out three searches in the Dublin 2 and Dublin 8 areas today and arrested three men all aged in their 20s.

All three men are currently being detained under the provisions of Section 50 of the Criminal Justice Act, 2007 at Kevin Street and Pearse Street Garda station, where they can be held for up to seven days.

Eight arrests have now been made as part of operation Skein, a Garda investigation into invoice redirection fraud.

Criminals run invoice redirection scams by sending invoices to companies pretending to be one of the target companies’ trading partners.

This is often done convincingly with the help of extensive background research and/or hacking.

30/11/2020 Members of the Gardai at a Checkpoint on O Connell Street during the Coronavirus Covid 19 pandemic in Dublin’s City Centre (stock) (Image: Collins Photo Agency)
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The fraudsters will often ask the target company to pay funds into an ‘updated’ or ‘new account’.

When the invoice is paid the money is transferred into a bank account controlled by the fraudsters rather than into the account of the legitimate company owed the money.

Fraudsters use accounts under false identities or sometimes they will pay an account holder to use their account for the purposes of receiving and transferring money.

Gardai conduct a Covid-19 Checkpoint on Chesterfield Avenue opposite the Wellington Monument in the Phoenix Park, Dublin (stock) (Image: Collins Agency, Dublin)

Over €4,000,000 has been laundered through bank accounts in Ireland, according to Gardai

Two men were arrested in October after gardai carried out searches in Dundalk, Tralee and Dublin.

Gardaí are liaising with Europol and Dutch Police as part of Operation SKEIN, and investigations are ongoing.

Invoice-redirect fraud involves the tricking of companies into lodging money to accounts controlled by criminals.

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