Money laundering offenses in the Republic of Ireland have surged to unprecedented levels, with gardaí recording close to 2,800 cases last year and struggling to keep pace with the volume, The Irish Times reported Tuesday. 

The number of money laundering crimes recorded by gardaí reached 2,768 last year, up from 996 in 2024 and from roughly 50 per year as recently as 2017, according to the newspaper. Garda investigations into the Black Axe gang, an international criminal syndicate with a cell and leadership structure in Ireland, have led to the identification of thousands of suspects who allowed their bank accounts to be used, for a fee, to move and launder money.

When it comes to gang-related investigations, many family members and partners who have no criminal record and appear to be merely “offering support” are found to have moved money on behalf of suspects, according to the news outlet, which also noted that money laundering tied to various scams “sharply accelerated” during the Covid-19 pandemic.

The problem has grown to the degree that “the scale of the offenses now under investigation represents an increase far beyond any trend witnessed with any other crime type in the modern era,” the news outlet wrote. 

Garda sources told the Times that, despite the surge, the volume of offenses coming to their attention is likely only a fraction of the true level of money laundering across Irish society.

Investigators face significant difficulties in properly handling such a large caseload and in blocking crimes before stolen funds or proceeds of crime are moved beyond reach or withdrawn. Many of the cases require specialist investigation, including securing records from financial institutions and unpicking networks of suspects and interconnected accounts, the newspaper said. 

In response to queries from The Irish Times, Garda Headquarters said more members of the force are now undergoing a postgraduate certificate in Fraud and E-Crime Investigation, which includes a money laundering module and is run by the Garda National Economic Crime Bureau (GNECB) in conjunction with University College Dublin.

“All gardaí are actively encouraged to consider the financial flows behind every investigation and to ‘follow the money’,” Garda Headquarters told the newspaper.

The GNECB has also established a Financial Intelligence Unit through which financial institutions and financial services providers, including operators of money-transfer apps, can report suspicious transactions, according to the report.