Police dismantle clandestine bank moving €80-100m yearly for traffickers

Italian police have dismantled a clandestine bank that processed €80 to €100 million annually for drug trafficking networks, according to the Guardian. The underground operation, run by a Chinese national in Prato, used intermediaries across Europe to move money through the financial system undetected. The scale of the operation—several hundred million euros over at least three years—underscores the sophistication of money-laundering networks that exploit Italy's position as a transit hub for European drug distribution.

The Prato operation reflects a broader pattern. The city, a centre of textile manufacturing and Chinese immigrant enterprise in Tuscany, has become a focal point for financial crime investigations across northern Italy. Police dismantling such networks typically reveals layers of shell companies, trade invoicing schemes, and cash-based intermediaries that obscure the source and destination of illicit funds. The Guardian's report does not detail the investigation's scope or duration, but such cases typically involve coordination between Italian financial police and Interpol.