Illegal money lenders are being targeted in Waterford as part of a major operation involving over 100 gardai.

Around 20 residential and commercial properties have been raided across the city this morning.

The operation began at around 7am this morning and is on-going.

Local gardai are being backed up by armed officers and members of the Criminal Assets Bureau (CAB).

Tom Brady, security editor with the Irish Independent, has more details.