Woman receives suspended sentence for money laundering of over 170,000 euros via a bank account

A woman who admitted laundering over €170,000 through her bank account has been given a suspended sentence at Dublin Circuit Criminal Court.

Caitriona Shaw (42), of Whitestown Way, Tallaght, Dublin 24, pleaded guilty in March 2020 to two counts of invoice redirection fraud targeting legitimate businesses after her account was used by individuals higher up the criminal chain of command to illegally transfer funds.

Judge Pauline Codd sentenced Shaw to a three-year suspended prison sentence. She described Shaw as a “pure cash cow” and said she was typical of those targeted by those higher up in the hierarchy for their own personal gain.

Judge Codd imposed a maximum sentence of five years, but acknowledged that Shaw was in a very difficult family and medical situation at the time of the offence and had gained “little or nothing” from the offence.

The court concluded that most of the money was recovered after the Bank of Ireland froze Shaw’s account, but Circle K still suffered a loss of over €18,000.

Garda Richard Morrisson, speaking for the State, told Kieran Kelly BL that the breaches involved companies receiving genuine invoices from contractors but then receiving a second, fake email purporting to be from the contractors stating that their banking details had been changed.

The court heard that on 31 March 2020, Bank of Ireland became aware of a sum of €145,804 transferred to Shaw’s account by Cembrit Ireland, a construction and building materials company.

Fake email

Bank employees realized that Cembrit had fallen for a fake email and blocked Shaw’s account.

Then it emerged that a few days earlier, on March 27, 2020, an unrelated amount of €26,104 had been transferred from Circle K to Shaw’s account.

The court heard that Circle K had received a genuine invoice from an electrical installation company in County Clare, but then received a fake email saying the bank details had changed.

Numerous bank transfers and Revolut transactions had already taken place, but Bank of Ireland was able to recover around €7,000, leaving Circle K with a loss of €18,180.

Shaw has no previous convictions and has not been targeted by the Garda before or since this offence, the court heard.

Garda Morrisson agreed with James Dwyer SC’s defence that Shaw had co-operated with the Garda and attended a Garda station by arrangement.

The prosecuting garda also agreed that activity on Shaw’s account had previously been “fairly modest”, listing payments she had received from social services and noting that her account balance was €55 at the last check.

Mr Dwyer said that at the time of the offence, Shaw was in a particularly vulnerable position and was living in a women’s refuge after moving away from her family home and losing her husband, who has since died.

The court heard that she was taking medication for anxiety and depression when an acquaintance of her son approached her and demanded that she give up control of her bank account.

There was no evidence that Shaw had any knowledge that her bank account was being used for this type of sophisticated theft, the court said.

“Her involvement was at the lowest level; it was clear from the start that she would get caught,” the lawyer said.

Judge Codd said Shaw had chosen to engage in such transactions “out of her own recklessness” and found that she had made no effort to repay the money she lost.

The judge imposed a three-year prison sentence, which was suspended for three years.