Fraud squad detectives have arrested a 24-year-old man who set up a "false overdraft" of €50,000 when he was working in the head office of one of Ireland's biggest banks.
The suspect, from north Co Dublin, is described as a "computer whizz-kid" and has been the subject of a major probe by the Garda National Economic Crime Bureau (GNECB) for three years.
He was re-arrested by officers at Blanchardstown garda station on Thursday. They had previously questioned him about the elaborate scam, which was carried out at the bank's city headquarters.
Senior sources said that, while working in the head office, he was "able to manipulate a flaw" in his employer's online system.
"Essentially the suspect created a false overdraft facility for himself by means of his excellent computer skills," a senior source said last night.
"He is suspected of stealing just under €25,000 before gardaí were alerted to his activities.
"In particular, the GNECB has been focusing on three incidents of alleged theft which happened in 2017 in relation to the false overdraft when he was working for the bank.
"These are the withdrawal of €10,000 on two occasions as well as the alleged theft of €4,500 on another occasion."
The suspect was not previously known to gardaí for involvement in crime, and he is expected to be charged before the courts in the coming weeks.
Sources said the case is just one of a number the GNECB are investigating in relation to people working in banks who have access to computer systems and are involved in fraudulent activity.
"In essence, in some case they are using their positions of trust to access customers' accounts and manipulate weaknesses in the banks' IT systems for their own criminal ends," a source said.
A woman based in a bank institution in the Tallaght area is being investigated for similar offences.
In a separate case, a northside-based suspect aged in his 20s was arrested earlier this year after gardaí became aware he was "accessing customers' accounts and attempted to transfer money from these accounts".
It has been an extremely busy week for fraud squad detectives, who are also playing a key role in a separate international investigation into a sophisticated international €15m Covid-19 scam involving the sale of personal protective equipment (PPE) for medical professionals.