Cash totalling more than £2.6 million has now been seized as part of a National Crime Agency investigation into suspected money laundering in Newry.
Following searches of two businesses and two residential properties last month, a total of £882,695 and €1,055,495 was recovered by NCA officers as suspected criminal funds.
A further £692,140 and €223,490 had previously been seized by PSNI officers, working in partnership with the NCA, in earlier disruptions.
A 26-year-old man, also of Newry, arrested on June 19, has been bailed as the investigation continues.
Premises searched
Two business premises in the city and two nearby residential addresses were searched and a quantity of cash and electronic devices seized on June 19.
The man is accused of laundering the proceeds of criminal activity through money service businesses.
A second man, 51, was also arrested by PSNI officers at the scene.
Philip Marshall, NCA Regional Head of Investigations, said: “Money laundering underpins and enables organised crime and allows criminals to enjoy the profits of their criminal activity.
“The NCA will continue to work with our partners, including the PSNI and HMRC, to make the UK a hostile environment for money launderers.”
