A major Italian police operation has dismantled a clandestine financial network used by organized crime groups for drug trafficking and money laundering. Authorities believe that hundreds of millions of euros passed through this hidden banking system over the past three years.
According to investigators, the network was based in the city of Prato, near Florence, and was run by a Chinese national since 2021. The organization acted as a global financial intermediary for criminal groups, facilitating payments for large drug shipments without physically moving cash while guaranteeing complete anonymity.
Italian police stated that the system virtually transferred funds between Italy, Spain, France, Germany, Belgium, and the Netherlands. In the last three years alone, it is estimated to have processed between €80 million and €100 million annually.
Among the network’s clients were Albanian drug trafficking organizations operating in Italy, as well as Italian mafia groups.
As part of the operation, 41 people were arrested in Italy and Spain on charges including criminal association, drug trafficking, money laundering, and facilitating illegal immigration.
Investigators also uncovered that one branch of the organization managed an illegal migration network from China into Europe. Migrants were reportedly transported first to Belgrade, Serbia, and then moved onward into European Union countries, often under difficult conditions, before reaching Italy.
Italian authorities have described the operation as one of the most significant blows in recent years against financial networks supporting international drug trafficking and organized crime activities.
