Gardaí believe the money was the proceeds of invoice redirect frauds in Russia, Slovakia, Taiwan, India and South Korea
The suspect was detained during a garda operation in Limerick this morning targeting an international fraud gang.
He is currently being quizzed by detectives in relation to the scams carried out in Europe and Asia.
Detectives suspect that €139,211 was laundered through his bank account over a three day period in July 2020.
Gardaí believe the money was the proceeds of invoice redirect frauds in Russia, Slovakia, Taiwan, India and South Korea.
It was then transferred to accounts in Turkey and Germany, while there were also transfers to Irish bank accounts,
Gardaí say there was also money withdrawn from these accounts in Ireland.
The suspect is currently being held under Section 50 of the Criminal Justice Act, 2007, and can be held for up to seven days.
The man, aged in his late teens, was arrested during the operation involving the Garda National Economic Crime Bureau (GNECB).
They were assisted by local officers based at Henry Street garda station, where the suspect is being questioned.
A Garda spokesman said that the arrest was carried out as part of Operation SKEIN and that investigations are ongoing.
They said the money is alleged to have been transferred through the suspect’s account between July 20 and July 23 last year.
Operation SKEIN is focusing on an international criminal organisation who have been using Irish bank accounts to store money stolen from companies in “every EU country, Russia, Canada, China, African countries and the US”.