CAB raids in Kilkenny and Tipperary this morning have seen €540,000 frozen in 16 bank accounts.
The Criminal Assets Bureau searched four homes and a business locally and across the border in Tipperary.
The operation, which also involved Europol as well as local Gardai and the Emergency Response Unit and the Garda Dog Unit, is targeting an Organised Crime Group from the Munster and South Leinster region with links across Europe.
More than €4m of funds have been identified in transfers into Irish bank accounts linked to the crime gang.
Other items of note seized today include a 201 Volvo XC90 and financial documents.
Gardai say 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.