Documents, phones and electronic devices have been seized during raids by the Criminal Assets Bureau (CAB) in Dublin and Laois this morning.

Two homes in Dublin 15 and Dublin 6 and two professional premises located in Dublin 2 and Co Laois were searched.

The searches were carried out by CAB personnel, with support from the Garda Emergency Response Unit and officers from the Garda National Immigration Bureau.

€40,000 has also been frozen in an account in a financial institution under Section 17 of the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010.

Phones, documents and devices seized during the operation are set to be examined by specialist CAB analysts.

The search is described as a "significant development" in an ongoing operation targeting an organised crime gang involved in the cultivation, sale and supply of controlled drugs.

CAB says they are also investigating the "beneficial ownership of a home in South Tipperary and another home in North Cork".