The Criminal Assets Bureau (CAB) has frozen 16 bank accounts linked to an organised crime group with fund transfers worth €540,000.
Today's search operation is a significant development in an ongoing investigation targeting an organised crime group involved in large-scale money laundering in the Republic of Ireland and Europe.
The operation, which occurred in Tipperary and Kilkenny this morning, also resulted in the seizure of a 201 Volvo XC90 and financial documents.
CAB's investigation targeted an organised crime group originating in the Munster and South Leinster region with considerable links across the continent of Europe.
Over the course of the investigation assistance was sought from and provided by Europol. Fund transfers in excess of €4 million were identified from other jurisdictions to Irish bank accounts linked to members of the OCG.
The search operation involved searches of four residential properties and a business premises. It was conducted by CAB personnel supported by the Emergency Response Unit (ERU) and assisted by local Divisional personnel and the Garda Dog Unit.
A Garda spokesperson said: "Today’s search operation is a significant development in an ongoing CAB investigation targeting an OCG involved in large-scale money laundering in the Republic of Ireland and Europe."
