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1.12 million in cryptocurrency has been seized as part of a national and international investigation into money laundering and fraudulent text messages.

It is the first major seizure of cryptocurrency in the area of organised cyber-enabled frauds by An Garda Sochna.

Garda attached to the Waterford Division Crime Hub have been conducting what they described as a "complex criminal investigation" focusing on the bulk transmission of smishing texts (Fraudulent text or WhatsApp Messages).

Nine men were arrested in Waterford between September and October as part of this investigation.

Two of the men subsequently appeared before Waterford District Court, where they were charged with offences related to money laundering, theft and fraud offences.

Garda said the investigation had also resulted in the freezing of 30,000 in other monies, the seizure of two vehicles - a Volkswagen Golf and a Mercedes - and the identification of a property in Dubai.

The criminal activity involved fraudulent text and WhatsApp messages claiming to be from national postal offices, delivery companies and financial institutions.

The investigation is being coordinated by the Waterford Crime Office with the assistance of GNECB (Virtual Assets Investigation Unit and FIU Ireland), GNCCB, Europol, Garda Passenger Information Unit (GPIU) and other Garda Divisions.

Europol and garda liaisons in Irish embassies are also facilitating the investigation team in conjunction with other police forces to progress the investigation internationally.

The investigation has established that the criminal activity is operating in a number of countries in Europe, the UK, Dubai and South Africa.

See the article here:

1.2m in cryptocurrency seized in major fraud operation - RTE.ie