Italian police dismantle underground bank used by drug traffickers

Italian police have dismantled an underground bank used by drug traffickers through which several hundred million euros are believed to have moved over at least three years, according to the Guardian. The clandestine operation, run by a Chinese national based in Prato, moved between €80 and €100 million annually through intermediaries, the report states. The investigation exposed a sophisticated network that functioned as a global broker for illicit funds.

The dismantling of the operation underscores the scale of organized crime networks operating across Italy's manufacturing heartland. Prato, in Tuscany, has long been a hub for Chinese textile manufacturing and has featured repeatedly in international coverage as a node in transnational organized crime. The Guardian's reporting suggests the underground bank served traffickers across multiple continents, highlighting Italy's continued role as a transit and settlement point for global criminal finance.