Kinahan cartel among network of gangs using secret 'underground bank'

Christy Kinahan and son Daniel. File picture

    The Kinahan cartel is among a network of Europe’s top gangs using an underground bank to launder hundreds of millions of euro, according to a media investigation.

The European Broadcasting Network (EBU) found that a WhatsApp group chat, known as Traders of Greater Europe , was used to arrange the cash transfers across borders.

The group, with 532 members, used the ancient hawala transfer system, comprising a network of money brokers in each of the countries.

Some 25 countries, including Ireland, were named in the messages examined by the investigation team.

The underground bank, hawala, does not require cash to physically move between countries, and is based on trust and experience between the brokers.