Italian Police Uncover €110M Mafia Banking Scheme Using Crypto

Italian police have dismantled an alleged mafia-run underground bank that operated behind a car-rental business near Milan, processing more than €110 million in fake invoices and moving roughly €68 million abroad through banks and cryptocurrency. The investigation led to 30 court-ordered restrictions and the seizure of approximately €21 million in assets, exposing financial ties between Italy’s most powerful criminal organizations. ANSA reported that a car-rental business outside Milan allegedly served as a secret bank for some of Italy’s most powerful mafia organizations. Italian financial police uncovered a criminal network responsible for more than €110 million ($128 million) in fraudulent invoices and approximately €68 million ($79 million) in international money transfers, some involving cryptocurrency. Announced Oct.

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