Italian Police Dismantle Illicit Bank Used by Drug Traffickers, Chinese Mafia

Ekhbary News Agency | 24 May 2024

Italian police have successfully dismantled a clandestine bank, reportedly used by drug traffickers, which is believed to have moved several hundred million euros over at least three years. The logistical base for this illicit operation was situated in Prato, northwest of Florence, and has been managed by a Chinese national since 2021, officials confirmed.

Global Broker for Organized Crime

Police stated on Monday that the operation functioned as a "global broker at the service of organised crime," providing secure channels for paying for massive drug consignments without physical cash movement, while guaranteeing total anonymity of financial flows. This intricate circuit, it appears, facilitated the virtual transfer of capital between Italy, Spain, France, Germany, Belgium, and the Netherlands through a network of intermediaries who collected a commission. The network managed to move an estimated €80-100 million annually for at least three years, with clients including Albanian trafficking organizations active in Italy and the Italian mafia.

Illegal Immigration Network Uncovered

Authorities arrested 41 individuals in Italy and Spain connected to the network, facing charges ranging from criminal conspiracy and drug trafficking to money laundering and aiding illegal immigration. A distinct branch of the organization operated a "lucrative illegal immigration network from China," flying migrants to Belgrade before forcing them to march to the Hungarian border and onward to the EU, with Italy as the final destination. Migrants were charged up to €9,500 for the journey. This extensive operation underscores the deep entrenchment of organized crime within global financial systems and immigration routes, exploiting vulnerable individuals for profit.