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Sydney men charged with money laundering

Two Sydney men have been charged after being accused of transferring $2.3 million offshore as part of an international money-laundering operation.

NSW Police searched homes at Cronulla and Kirrawee in Sydney's south on Tuesday and seized more than $170,000 in cash, 64kg of silver bullion worth an estimated $55,000, and two ounces of gold bullion worth an estimated $5000.

Detectives also seized documentation and electronic items.

A 49-year-old man was arrested at the Kirrawee home and charged with 18 money laundering charges.

A 40-year-old man was arrested outside Sutherland Police Station and charged with 41 money laundering offences.

Police will allege in court the men facilitated the illegal transfer of millions of dollars to overseas accounts.

"We will allege these men were responsible for the illegal transfer of more than $2.3 million into offshore accounts," Detective Inspector Andrea Panozzo said.

"Make no mistake, this is a large-scale co-ordinated criminal enterprise we have successfully disrupted."

Both men were refused bail to appear at Sutherland Local Court on Wednesday.

© AAP 2020