Italian police dismantle illicit bank used by drug traffickers as global broker
Summary
Italian police have shut down an illegal underground bank in Prato that helped drug traffickers move hundreds of millions of euros over three years. The bank provided secret financial services to organized crime groups, including the Italian mafia and Albanian drug cartels, enabling fraud-free money transfers across several European countries.Key Facts
- The underground bank was based in Prato, near Florence, and operated since 2021 by a Chinese national.
- It moved about €80-100 million yearly between Italy, Spain, France, Germany, Belgium, and the Netherlands.
- The system allowed drug traffickers to pay without physically moving cash and kept transactions anonymous.
- Clients included the Italian mafia and Albanian drug trafficking groups.
- Police arrested 41 people in Italy and Spain on charges like drug trafficking, money laundering, and illegal immigration.
- The group also ran a human smuggling network from China to Europe, charging migrants up to €9,500 for the trip.
- Prato, known for its textile industry, has a large Chinese community and rival mafia groups competing for control of local markets.
- The Chinese mafia exploits workers in the textile sector, paying very low wages for long hours.
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