A man suspected of laundering €60,000 was arrested on Wednesday.

Gardai investigating invoice redirect fraud nabbed the man, aged in his 30s, as part of Operation SKEIN.

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.

He is suspected of laundering the money from two international invoice redirect frauds.

A garda spokeswoman said: "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 has stolen over €18 million worldwide in invoice redirect frauds/BEC frauds with the vast majority laundered through bank accounts in Ireland.

"Investigations are ongoing."

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