Twenty-six people have been arrested after police dismantled an international crime syndicate based in Melbourne and Sydney.

Police have seized $4 million in cash, $5 million in properties and 42 kilograms of drugs.

Casino chips worth $600,000 were also seized, along with $10,000 worth of jewellery and designer handbags.

A Lamborghini has also been seized as part of the joint operation by the Australian Federal Police and Victoria Police.

Police will announce further details at a press conference later this morning.