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Police freeze more than $1 million as part of ongoing investigation

Police have frozen more than $1 million held in bank accounts as part of an ongoing investigation into suspicious financial transactions in WA.

Proceeds of Crime Squad detectives have charged two Vietnamese nationals currently living in Morley as part of the inquiry.

As part of the investigation, suspicious financial transactions were identified with several bank accounts in question being linked to the two Vietnamese nationals.

"Financial investigators from the Proceeds of Crime Squad conducted an extensive analysis of the transactions and as a result of their findings several bank accounts containing a combined amount of just over $1 million were frozen and search warrants were executed at residences in Morley and Ballajura," police said in a statement.

During a search of the Morley home more than $10,000 was located and seized along with other "items of interest."

A 44-year-old man and 36-year-old woman, both of Morley, have been charged with dealt with property reasonably suspected of being proceeds of crime and valued at $100,000 or more.

They are both due to appear in the Perth Magistrates Court on Thursday.