January 17 2016
Russian mafia money is hard to detect because it is hidden in high value investment funds that are often routed through international institutions in the Irish Financial Services Centre (IFSC).
The latest annual report, published last week, showed that Cab seized over €10m in illicit proceeds in 2014. Almost €4m returned to the state and €6.5m in assets were frozen. Social welfare overpayments of €655,641 in jobseeker’s allowance and €275,998 in disability allowance were also recovered.
The annual report disclosed the money the agency seized from the underworld, and also how criminals are trying to hide it.
Travelling crime gangs in particular are choosing mid-range cars, like Nissans and Hondas, a number of which were seized in 2014.