The Criminal Assets Bureau has seized two cars and frozen three banks accounts worth €340,000 following a search operation in Dublin and Kildare today.

The operation involved searches at five locations including residential and commercial addresses.

A 212 registration BMW X6, a 141 BMW X5, a Breitling watch and two Armani watches were all seized.

This morning's search operation was conducted as part of a CAB proceeds of crime investigation into assets accrued by an individual linked to an East European Organised Criminal Group which is involved in drug trafficking.

The operation marks a significant development in the ongoing CAB proceeds of crime investigation, gardaí said.

Electronic devices and documentation were also seized during the course of the search, which was conducted by Bureau officers and supported by the Emergency Response Unit, the Garda National Drugs and Organised Crime Bureau, Tallaght District Drug Unit, Naas District Drug Unit, the Stolen Motor Vehicle Investigation Unit and the Customs Dog Unit.