Seven people have been arrested and more than £2 million seized in the Irish republic following a series of raids in an operation against IRA money laundering.

The money seized includes a stash of £60,000 in Northern Bank notes - which could be linked to the £26.5 million Belfast robbery in December.

The notes were last night awaiting forensic investigation before police could establish whether serial numbers matched those stolen in the robbery, which police have blamed on the IRA.

The group arrested are aged between 30 and 70 and includes one former Sinn Fein councillor.