Searches have taken place in Tralee as part of an investigation into invoice redirection fraud.
Gardaí attached to the Garda National Economic Crime Bureau investigating invoice fraud have also arrested two men.
The two men, one in his late teens and the other in his 40s, are currently being detained at Blandchardstown and the Bridewell in Cork.
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They can be held for up to 7 days.
Gardaí say they are liaising with Europol and Dutch Police as part of the investigation.
Searches have been carried out in Tralee, Dundalk and Dublin as part of the operation.
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Over €4m has been laundered through bank accounts in Ireland and these are the third and fourth arrests to have taken place as part of Operation SKEIN.
Gardaí say their investigations are ongoing.
