Seven people have been arrested and funds of €1,035,093 have been seized by the Criminal Assets Bureau following searches across Dublin and Wicklow.
Vehicles and high-value goods were seized during the raids at 13 locations. Cash totalling €733,499 was seized and €301,594 has been frozen in bank accounts.
Eight homes and five businesses were targeted this morning.
Gardaí say the searches are part of an ongoing intelligence-led operation targeting foreign nationals involved in the laundering of the proceeds of crime.
"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," a garda spokesperson said.