Criminal Assets Bureau inquiry exposes covert banking network

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The Criminal Assets Bureau said the case was a reflection of the ever-changing nature of organised crime in the Republic. Photograph: PA An investigation by the Criminal Assets Bureau (Cab) unearthed an underground “banking” network offering an international money transfer system never previously discovered in the Republic. It allowed Irish crime gangs, mainly involved in the drugs trade, to move cash to continental Europe without the cash ever leaving the country and without leaving any trace. The system was run by a network of Chinese restaurants, in Ireland and continental Europe, with the Irish criminals paying handling fees of up...