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A man has been arrested in Newry this morning following a National Crime Agency investigation into the suspected laundering of criminal cash.
National Crime Agency officers arrested a 26-year-old man, this morning in an operation supported by officers from the Police Service of Northern Ireland (PSNI) and HM Revenue and Customs (HMRC).
Two business premises in the city and two nearby residential addresses were searched and a quantity of cash and electronic devices have been seized.
The man is accused of laundering the proceeds of criminal activity through money service businesses. He remains in custody to be questioned by NCA officers.
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."
