Update: A fourth man has been arrested after gardaí conducted searches in Wexford today targeting organised criminal activity.
The 44-year-old man was arrested on suspicion of money laundering offences.
He and three other men aged 47, 38 and 29 are currently detained under Section 4, Criminal Justice Act, 1984 at Wexford garda station.
Gardaí estimate that a total of €1.2m was seized in relation to three searches carried out in today by the Garda National Drugs and Organised Crime Bureau.
Officers stopped two vehicles off the Clonard Road in Wexford Town at around 10.45am this morning. They later conducted another search this evening which led to the arrest of the fourth man.
In a separate search in the Ballyfermot area of Dublin earlier, gardaí said they had seized "a very significant sum of cash".
Gardaí have seized "a substantial sum of cash" today in searches in Dublin and Wexford today.
Officers investigating organised crime stopped two vehicles off the Clonard Road in Wexford Town at around 10.45am this morning.
The cash, the total of which is yet to be determined, was seized and three men aged 47, 38 and 29 were arrested on suspicion of money laundering offences.
They are being held at Wexford garda station under the provisions of Section 4 of the Criminal Justice Act 1984.
Following the search in Wexford, further operations were carried out in Dublin which resulted in "a very significant sum of cash" being seized.
Speaking earlier today, Assistant Commissioner John O’Driscoll, who is head of Special Crime Operations (SCO), said: "Depriving organised crime groups (OCGs) of the proceedings of their criminal activity is a particular priority for the Garda Síochána.
"For this purpose, today, the Garda National Drugs & Organised Crime Bureau (GNDOCB) is undertaking searches in Dublin and Wexford, which has resulted in the arrest of three suspects and the seizure of a very significant quantity of cash."