The Irish High Court has endorsed an arrest warrant issued by Westminster Magistrates’ Court for a 39-year-old Nigerian man wanted in connection with an alleged invoice redirection fraud involving almost $23 million.
Mr Justice Cian Ferriter heard that An Garda Síochána was seeking to have the UK warrant endorsed so that it could be enforced in Ireland, where the accused is currently believed to be.
The case concerns invoice redirection fraud, a form of business email compromise in which criminals impersonate legitimate suppliers or gain access to communications before persuading businesses to send payments to bank accounts controlled by them.
Gardaí have previously warned that the crime can result in substantial losses for businesses, with stolen funds often transferred abroad. Official figures show that almost €11 million was stolen from companies in Ireland through business email compromise fraud in 2022, while about €6.5 million had been reported stolen by the end of September 2023.
Irish investigators have also dealt with international fraud networks in which money received through fraudulent transactions was moved through accounts in Ireland before being transferred elsewhere.
The Garda National Economic Crime Bureau is responsible for investigating serious and complex economic crimes, including major fraud and money laundering cases.
The High Court endorsement allows the UK warrant to operate within the Irish jurisdiction. The accused remains wanted in connection with the allegations, and the court proceedings concern his arrest and transfer rather than a determination of guilt.
Invoice redirection fraud remains a significant concern for businesses because fraudulent payments can sometimes be difficult to detect until the genuine supplier contacts the victim seeking payment.
