Update, 2:20 p.m.: Other media speculate whether an arrest has indeed been made or at least a suspect has been identified.

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An arrest has been made in the Boston Marathon bombing incident, according to CNN reports this afternoon.

Police gathered evidence based on two videos captured during the event that depict images of the suspect responsible for two explosions Monday afternoon, which killed at least three and injured more than 100 people during the iconic race.

One video was taken by a department store camera near the scene of the second explosion and the other by a Boston television station.

The bombs, which exploded about 12 seconds apart, were comprised of pressure cookers packed with nails and metal fragments.

Another update in the investigation is the identification of the third victim of the bombing, Boston University graduate student Lingzu Lu.