Thousands of euro worth of high-powered cars have been seized during an investigation into the activities of criminal gangs in Dublin.

More than 60 gardaí, including armed detectives and staff from Revenue Customs Service, are involved in the operation which is targeting money laundering activities.

No arrests have yet been made as part of the evidence-gathering exercise.

Conor Feehan is crime correspondent with the Herald. He told Newstalk Lunchtime a number of vehicles have been seized so far.

Cash - high powered vehicles and jewellery were seized as part of the massive operation by the Gardai and the Criminal Assets Bureau.

Some 18 locations - homes and businesses - were searched in the capital as part of a operation targeting the proceeds of crime.

29 vehicles and 6 motorcycles have been seized along with a number of items of jewellery which are believed to be of considerable value.

More than €300,000 in cash was also seized.

More than 60 Gardai, staff from the Criminal Assets Bureau and Revenue Customs officials were involved in the searches. 

Investigators are looking into the activities of a gang linked to David Byrne, who was shot dead at the Regency Hotel last month.

The ongoing searches began early this morning in Crumlin.

Nicola Tallant, investigations editor with the Sunday World, says a number of high-end items have been seized.

"Well, certainly cars have been removed. What I do know of the gang is that they would have a lot of high-end watches, jewellery, cars, motorbikes and trappings of wealth like that".

"Now, whether or not they can prove if they legitimately bought them remains to be seen".

She says the raids have targeted a car sales business believed to have links to the Kinihan family.

"The Kinihan gang have been suspected of using the car sales industry for money laundering, and possibly as a drugs transportation route from the UK for some time - they are being searched".

There is a couple of accountants' premises and solicitors' premises as well", she added.