Italian Police Dismantle Mafia Crypto Banking Network

Italian financial police have dismantled a criminal network that operated an underground bank from a car rental agency near Milan. Thirty people were arrested on suspicion of ties to the 'Ndrangheta and Camorra syndicates. Authorities seized approximately $24 million in cash, jewelry, luxury watches, and crypto assets.

The scheme used shell companies to issue fake invoices and reduce tax obligations for third parties. Funds circulated through bank accounts in countries such as Luxembourg, Lithuania, and Germany. Afterward, the money was converted into cryptocurrencies through exchanges to hide the origin of the resources.

The investigation indicates that the network moved approximately 68 million euros abroad. Drug traffickers exchanged cash for digital assets or international bank transfers. The group also processed funds obtained from online investment scams against victims.

The judicial process details the involvement of accomplices of various nationalities in running the system. Among those arrested are a financial police inspector and a Milan court employee accused of corruption and leaking information. The Italian police technological fraud unit assisted in gathering evidence contained in a 500-page document.

The use of digital assets by criminal organizations increases regulatory pressure on the crypto sector globally. This scenario raises the risk of stricter restrictions and greater surveillance over capital flows at international exchanges.