Gardaí say they have broken up a major criminal network that has been using forged cheques and credit cards to defraud businesses and charities across Ireland.
Three Zimbabwean nationals were arrested on Wednesday in Drogheda and Galway over an attempt by the gang to defraud commercial customers of banks.
A Garda spokesman said the gang has been operating over the past five months. It has been attempting to fraudulently transfer money from accounts in banks across Ireland.
He said the criminals pretend to be the account holders and send forged documents to bank branches instructing them to transfer funds to other jurisdictions. Those targeted by the criminals included several charitable organisations, and companies that have international business.
The cheque and payment card unit of the Garda Bureau of Fraud Investigation recovered €160,000 that was taken from the account of a well-known charity last month.
Attempts to steal up to €1.3 million from other commercial customers during the month was also thwarted, gardaí said.
During a search of a house in Drogheda on Wednesday, forged documentation and equipment used to manufacture counterfeit credit cards were discovered. Gardaí also found business cheques and cheque books. It is believed the cheques and cheque books were stolen from the postal system in Ireland and the UK.
One man appeared in court in Drogheda today charged with fraud. The other two people arrested this week were released without charge and a file will be sent to the Director of Public Prosecutions (DPP).