The money was discovered by officers from the Garda National Drugs and Organised Crime Bureau (GNDOCB), assisted by the Garda Dog Unit, in an operation targeting the suspected criminal activities of an organised crime group.
A garda spokesman said the two premises - in North Dublin and Dublin city centre - were searched in the course of the operation and a number of vehicles were seized.
He said: "In the course of a search of one vehicle, a concealment of cash was discovered. The vehicle and its content remain subject of examination. However, the amount seized is believed to exceed €1 million.
"Investigations are continuing."
Assistant Commissioner John O’Driscoll, head of Organised and Serious Crime, has said: "We continue to target those causing most harm in our community.
"This seizure of a significant quantity of cash will, we believe, contribute to the disruption and potential ultimate dismantling of particular organised crime groups that we continue to target, building on earlier success achieved, in recent years”.
In another search operation undertaken over this weekend, GNDOCB seized cash to a value of €117,000 along with one vehicle and a Rolex watch. A man in his 30s was arrested and remains detained at Coolock Garda Station.
A garda spokesman said the seizure in Coolock came as a result of an investigation into suspected organised crime gangs operating in Dublin.
"On 16th January 2021, in the course of ongoing investigations targeting persons suspected to be involved in organised crime, the Garda National Drugs & Organised Crime Bureau (GNDOCB) supported by the Garda Dog Unit conducted a search at an address in the Coolock area of Dublin.
"In the course of this search, cash to a value of €117,000 was located and seized, along with one vehicle and a Rolex watch.
"One male, aged 35 years, was arrested on suspicion of involvement in money laundering related offence, contrary to the provisions of section 7, Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010.
"He is currently detained under Section 4 of Criminal Justice Act, 1984, at Coolock Garda Station."