How money laundering has become big business in Ireland

For online fraudsters to be successful they need a web of bank accounts to first receive the money they steal and then to channel it, often out of the country.Some people, often students, willingly let their bank accounts be used in exchange for a small sum of money. For others though, they have no choice, like the victim of sextortion before the courts this month who was blackmailed into letting his Revolut account be used by a crime gang.Drug gangs still use bricks-and-mortar operations to launder money; businesses that are often cash based, from barbers to nail bars. But the volume of cash generated particularly by online fraud needs a more sophisticated banking-based solution.Ten years ago An Garda Síochána was uncovering just 50 cases of money laundering a year in Ireland, in 2025 it was nearly 2,800. So why the huge increase and does the Garda have the resources to deal with this growing category of crime?Irish Times crime and security editor Conor Lally explains why money laundering is now big business in Ireland.Presented by Bernice Harrison. Produced by John Casey and Suzanne Brennan.  Hosted on Acast. See acast.com/privacy for more information.