Irish organized crime groups are now renting private storage vaults to hide and protect proceeds from illegal activities, avoiding police searches. These vaults contain six-figure luxury watches, designer handbags, and cryptocurrency access keys. Michael Gubbins, Chief Bureau Officer of the Criminal Assets Bureau (CAB), stated that criminals believe anonymity is attached to cryptocurrency, but its volatility represents a vulnerability. Ireland is seeing an increase in the use of cryptocurrency for money laundering, combined with cash and luxury goods.
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