Seven people have been arrested after the Criminal Assets Bureau seized nearly half a million euro in cash and luxury cars following a series of raids in Dublin and Wicklow on Monday morning.
Officers searched 11 sites including three business premises and eight residential addresses as part of operation targeting foreign nationals involved money laundering for Irish-based organised crime groups.
During the raids luxury vehicles, high value goods and €449,000 in cash were seized.
A further €261,000 in funds were frozen in Irish bank accounts.
The seven people arrested have been arrested for money laundering offences contrary to Section 7 of the Criminal Justice Money Laundering and Terrorist Financing Act, 2010.
They are currently all being held in stations across Dublin.
The investigation was carried out by the Criminal Assets Bureau, supported by the Emergency Response Unit and Regional Armed Support Unit.
They were also assisted by the Garda National Immigration Bureau , the Garda National Economic Crime Bureau, Garda National Protective Services Bureau and local Detective Units.
A garda spokeswoman said: "This operation marks a significant development in the Criminal Assets Bureau’s ongoing investigation into a criminal network involved in the laundering of funds for a number of national and international organised crime groups."
