Italian Police Seize $24M in Mafia Crypto Money Laundering Bust

Mafia Crypto Money Laundering — Italian authorities have dismantled a mafia-linked ‘secret bank’ near Milan and seized over €22 million ($24 million) in assets, alleging the operation laundered illicit funds through cryptocurrency.

The Guardia di Finanza, Italy’s financial police, arrested 58 people and executed 150 searches across the country. The investigation targeted a car rental company in Monza that allegedly functioned as an underground bank for members of the ‘Ndrangheta and Camorra organized crime groups.

Police stated the operation moved money from drug trafficking and other crimes abroad, converting a portion into cryptocurrencies to obscure its origins. The seized assets include real estate, luxury vehicles, and cash.

The bust highlights the continued focus of European law enforcement on the intersection of traditional organized crime and digital assets. Authorities described the dismantled network as a sophisticated financial hub for criminal clans.