Police arrested a 45-year-old man for money laundering and illegal possession, after they found him with close to €49 thousand during an attempted drug bust, an announcement said on Sunday. 

According to the police on Saturday, a tip-off was received about a drug deal in the area of Dromolaxia, Larnaca district.

Members of the Larnaca CID and drug squad, Ykan, went to the area and shortly before 4.30pm a man arrived at the scene by car and while trying to park he was intercepted.

A check carried out by the police revealed that the driver of the car was a man aged 45 years old.

A search of the car revealed the sum of 48,797 euros, for which he did not give satisfactory explanations as to the lawfulness of its possession and its origin.

The man was arrested for the offence of illegal possession of property and money laundering and he was remanded for four days by the Larnaca district court.

The case is being investigated by Larnaca police.