UPDATED 12.22PM: New South Wales Police raids on two homes, including one linked to the terror-related death of police accountant Curtis Cheng, have come up empty handed.

The operation spearheaded by the Middle Eastern Organised Crime Squad began on separate streets in Merrylands in Sydney's south-west just after 6am, but police say nothing of interest was found.

One of the homes raided is believed to be that of 22-year-old Talal Alameddine, who's accused of providing the gun used in the fatal shooting of Mr Cheng on October 2.

Alameddine remains in police custody and is due to appear in court next week.