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Seven arrested in money laundering investigation

Seven arrested in money laundering investigation

Wednesday 22 January 2020

Seven arrested in money laundering investigation

Seven people have been arrested following a major police operation against money laundering in Northern Ireland.

A senior detective has described it as “one of the most significant live investigations into money laundering in the UK” involving £215 million.

Six men and one woman were detained after 15 searches at locations across Northern Ireland on Monday and Tuesday.

Four of the men have been released on bail.

Police Service of Northern Ireland (PSNI) Chief Constable Simon Byrne congratulated those involved in Operation Shambala, tweeting that “tenacious & complex work brings results”.

Detective Chief Inspector Ian Wilson said those targeted include individuals suspected of high-end money laundering through bank accounts in the UK and internationally.

He added: “Six men aged 33, 37, 39, 40, 50 and 67 and a 32-year-old woman were arrested during the two-day operation.

“During our extensive investigation, we identified that a significant volume of suspected criminal cash was being laundered out of the country through a number of shell companies and bank accounts held here in Northern Ireland.

“The investigation has identified over 50 companies and over 140 bank accounts.

Major money laundering investigation
PSNI officers raiding a property (Liam McBurney/PA)

“In total, almost £215 million has been deposited to thousands of bank accounts across the UK and also transferred out of the UK through foreign exchange companies since 2011.

“Money laundering is often a critical enabler of organised criminality. We believe that the majority of this money is derived from a range of criminal activity carried out by organised crime gangs.

“We are committed to keeping people safe by robustly pursuing those who are involved in laundering criminally-derived money and enabling criminals to access the profits gained from their involvement in a range of illegal activities.

“I would appeal for anyone with any information on this type of activity to contact police on 101 or call the independent charity Crimestoppers on 0800 555 111.”

A number of other agencies were involved in the operation, including the Garda economic crime branch, Criminal Assets Bureau, National Crime Agency, the United Kingdom Financial Investigation Unit, Her Majesty’s Revenue and Customs and Europol.

Democratic Unionist Party Policing Board member Mervyn Storey welcomed the operation.

“The fact that it is estimated to be the second largest anti-money laundering operation seen in the UK is testament to their planning, intelligence and gathering and professionalism on the ground,” he said.

“It is a good day for the interests of the public and a bad day for organised criminality, not just in Northern Ireland but internationally.

“This highlights the vital and active role the PSNI plays in tackling global and common threats to our communities.”

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