RegSol Blog


Anti-Money Laundering: Couple sentenced over Money Laundering

January 2021

A couple last month was sentenced at the Special Criminal Court for laundering almost €500,000 through five bank accounts over five years for the Kinahan Organised crime group.

A convicted drug dealer used two of his own bank accounts and three accounts belonging to his partner and the mother of his child. Through a search financial documentation showing the lodgements over a 5-year period indicated that 52 k was spent on airline tickets in three years. 

Both parties were in receipt of employment income or social welfare but lodged over 342k more than their legitimate income. 

This illustrates how vital obtaining information on the source of funds and wealth and undertaking transaction monitoring is for uncovering suspicious activity.

Couple sentenced over money laundering for Kinahans (rte.ie)


By: Judy de Castro