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GANGLAND CRIMINALS ARE using online betting accounts to stash drug money, allowing users to pay for the illicit items without cash and withdrawing it online without coming to the attention of the authorities.
Gardaí believe a number of serious criminals are using these accounts to safely store cash before moving it to a safer location, where it can be withdrawn.
A number of bets are made on very short odds to keep the account looking legitimate. The money is only kept in an account for a very short amount of time before it is withdrawn. This is to stop many of the bookmakers’ built-in anti money laundering software from identifying the issue and moving on.
In many cases, well-placed security sources say drug money is brought into the betting shop and is then lodged into an account. The money is then gambled on a game or race which is heavily fancied to win. For example at odds of 1/50. This means for every €50 gambled on a bet – this means you would win just €1 along with your €50 stake.
Former staff member
The Criminal Assets Bureau is aware of the method of storing money. Debit card seizures as part of wider searches are now becoming more commonplace for these officers.
A previous worker in a Dublin betting shop told TheJournal.ie: “This would happen all the time. Lads would come in and put a few hundred quid into their accounts. Then they’d back a dead cert – something that’s maybe 1/50. Then they’d withdraw the money.
“Where I worked, you weren’t allowed withdraw the cash after depositing without betting. I would have seen first hand that guys would come in, especially during festivals like Cheltenham, and stick in a few grand. Because that would be nearly normal around that week. They’d just take the money out an hour later or whatever.”
This method of stashing money stops criminals being caught with large amounts of cash. It is also a very easy way to move relatively large amounts of cash without the worry that bales of money are going to be seized by gardaí.
And it’s not just an easy way for criminals to avoid carrying large amounts of cash. Prisons are also hotbeds for this method of transaction. This is because having large amounts of cash inside the prison is mostly pointless.
For example, if a user wants drugs when they are prison, they are given the product and told to have money lodged into a specific gaming account. The prisoner uses a phonecall and says to a friend or relative to transfer €100 into a certain account. The dealer rings a friend and asks to check the balance of the account.
Anti money laundering software
However, bookmakers have shut down a number of accounts they feel are being used to launder money. The vast majority of bookmakers operate sophisticated anti money laundering software which is used to scan millions of accounts to look out for suspicious behaviour.
In some circumstances, bookmakers will conduct what is known as a fund inquiry. This is where it asks the account holder for proof of income. If this can’t be provided, the account is usually shut down.
These checks occur when a bookmakers’ anti money laundering software flags irregular betting patterns.
Due to this software, the lifespan of the online accounts used by gangland figures is relatively short. They end up either being suspended or shut down.
Recreational drug problems
The online bookmakers is just one of a number of ways cash is being stored by drug dealers and this comes as no surprise to Phillip Jennings, the coordinator for Safer Blanchardstown, a group which is attempting to highlight the dangers of recreational drug use and its link to intimidation and violence across the country.
Jennings has been dealing with families who have been left devastated by drugs and has spoken directly with people who have had to deal with drug debts built up by other family members.
He told TheJournal.ie that dealers are becoming more savvy in the way they collect their money.
He said: “Any method possible is being used to intimidate families. This is no surprise. There’s all sorts of different ways people are paying for their drugs – it’s especially difficult when someone is in prison. If a family member is getting drugs in prison and then there’s suddenly a knock on the door for someone looking for money, then that can cause a lot of problems. A lot of families don’t have €200 or €300 in their back pockets to pay a drug dealer.
“That’s when the windows start being broken and shots start to be fired at people’s front doors.”
TheJournal.ie contacted a number of bookmakers to ask them about their anti money laundering protocols.
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First time I’ve seen it occupied in a while in fairness
I saw it – huge admiration to the pair for caring enough to do this…
Fair enough in my book. Well done to protesters. They’ve at the very least raised awareness about this. I for one didn’t know about the failure to compensate. Best of luck.
Me neither.
They’ll never see the “united colours” of my money!
What a dump of a store…. I’ve never seen a single thing in it I’d ever want to buy…
Apart from one Garda who was on the scene the protest seemed to be a peaceful one..
Are you suggesting the gardai would cause the protest not to be peaceful?
Occupy Wool Street?
Jeez and Dunnes workers think their working conditions are bad.
So you want to live in Bangladesh?
Chill Kevin, tragedies like this one are horrific and all I am saying is in comparative terms Dunnes workers have little to be complaining about.
Well if you compare it to footballers who have no need for qualifications and get to play football all day for 150k a week they do have something to complain about. What’s your point??
Dunnes workers don’t have to work in mortal danger to earn the right to complain about their conditions
Comparitive to denis obrien they deserve a wage increase of 100000%
My point for the third time, when you hear of awful tragedies like this where thousands perish at work it puts things into perspective how good our working conditions are here.
My minimum wage flexi hour contract severely disagrees with you
Throw away the shovel, Top Cat. You’re on a loser on this one.
He is right though Said the unpopular opinion puffin
In the first photo Benetton appears to be spelled Bennetton and in the third photo survivors is spelled Survivers… I’ll bet any takers not a single one of them can find Bangladesh on a map.
In fact I’m slightly disappointed not to see an attempt to write Bangladesh… I’m sure that would have been good for a laugh.
Have these people no jobs to go to, what about the inconvenience to shoppers, wasting police resources and so on and so forth.
How about not being a heartless tool, and so on and so forth
some waffle outta you kid !
wipe the shiite off yer lip
How about looking up sarcasm in a dictionary? In case you haven’t noticed these are the usual lines thrown out about water charge protesters.
The only thing I noticed was the shiite on yer lip
It could be worse it could be between my ears.
sorry Niall – didnt get the sarcasm at all man -
Oh Niall! I hate to say this but…!
Surprised protesters are allowed in the store.
Down with that sort of thing.
Cianan his name is Gerry Lydon not Donal.
The company’s failure to own up to the disaster and pay their contribution has nothing to do with store itself though! These protesters are jeopardising the employers and employees safety and privacy, by carelessly protesting in the middle of the store, and that is by no means peaceful. They are absolutely right to raise awareness but if they want effective results, why not contact the head office of the company itself? Why not go there and protest? What about the other stores around the country? This poorly organised protest is just an attention-seeking bid from individuals who are just protesting for the sake of it.
Hi guys. Gerry here. I helped organize and was involved with today’s protest. Just a few points : Neuromacer its easy to walk into a store that isn’t expecting. Drew go out and play with the traffic! Those talking about dunnes : Yes our lives are infinitely better but as we saw with some of the thongs they were fightong for, if employers get a taste for exploitation, in a globalized world we can feel the effect here as well as regard zero hours, union involvement etc. Anca I gonna presume your not the sort who ever actually does anything judging by the tone of your “whats the point of action comment”. While Id like to dismiss you as a waste of space, unfortunately your apathy and cynicism is quote common so to summarize getting publicity for a neglected cause is better than sitting round moaning. But as for the jeopatdizing safety and privacy, go back to sleep and stop throwing around terms! Ill see you in the morning glen. So finally nothing comes of nothing. If you care about something, put some effort in and get out there! The smallest acorns can become a big tree or at least a feature on a popular website! X.
Good on ye Gerry, hope you managed to stop them making sales today.
Because it would have damn all impact . Go up to the head office here and say, please play nicely and pay the money you owe? We all know most big corporations have to be dragged kicking and screaming to do the right thing. These people have had two years to pay the money they pledged. Time for them to be shamed into stumping up.
Hi Gerry, I dont think the Dunnes strike had anything to do with underwear.
A bottle of Lynx would get rid of them protestors! I’d say there’s an awful stink of piss in that shop at the moment.
They do make some nice clothes though
have your say