A significant amount of cash was seized and a US national was arrested this week as part of a joint national security operation, police announced.

The 54-year-old was aboard a vessel that was intercepted on Monday and searched under the authority of a Proceeds of Crime Act warrant.

A statement said that the vessel was also seized during the operation, which involved the Bermuda Police Service, the Department of Customs, the Royal Bermuda Regiment Coastguard “and other key stakeholders”.

Sherwin Joseph, the acting assistant commissioner of Police who led the operation, said that the move helped to dismantle a money laundering network.

He added: “Laundering illicit finances can cause significant social and economic harm to our community by fuelling organised crime groups, supporting gang culture and causing harm to Bermuda’s national prosperity and international reputation.

“This operation further demonstrates that our collaborative mechanisms are appropriate and our existing processes/procedures to tackle money laundering are both effective and remain in line with the Financial Action Task Force’s global standards and recommendations.”

Lucinda Pearman, the Collector of Customs, noted that the operation demonstrated “strong inter-agency co-operation” when it came to reinforcing Bermuda’s borders.

She added: “This seizure demonstrates the power of co-ordinated intelligence, operational vigilance and inter-agency collaboration.

“We remain committed to protecting our financial systems and national security by identifying and intercepting illegal flows of money that undermine public trust and fund criminal enterprises.

“We commend all officers and agencies involved in this successful action.

“Their professionalism and dedication continue to ensure that our borders are not only secure, but also resistant to financial crime.”

Major Jeffrey Patterson, the Coastguard commander, said: “The RBR is pleased to have supported the successful execution of this operation with police and customs.

“On a daily basis, we support agencies in the execution of their duties — effectively serving as a force multiplier — all in service of our mission to protect Bermuda’s interests.”

The BPS said that their Specialist Investigations Department will continue investigations into the matter.