Seven people have been arrested following an investigation into the international money laundering of criminal assets accumulating to approximately £215 million (€252m).

Eight EU countries took part in the initiative which resulted in an array of illegal items being seized, including drugs, weapons, fake medicines as well as counterfeit notes.

Long-awaited Government plans to update Ireland’s terrorism laws to include a range of offences, such as travelling abroad to join terrorist groups, are still not near to being published, it has emerged.

The fifth European Money Mule Action (EMMA 5) took place between September and November of this year.

The Kinahan drug cartel is a main driver in the surge of cocaine coming into Europe and Ireland’s middle- and high-income earners are “fuelling” the trade here, garda sources have said.

Former assistant garda commissioner Michael O’Sullivan, who is now Director of the Maritime Analysis Operations Centre, has said that a new report into the European drugs market reflects an increase in the use of cocaine which is “fuelling murderous feuds.”