Italian police dismantle illicit bank used by drug traffickers as global broker

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Italian police have dismantled an illicit underground bank run by a Chinese national in Prato, which facilitated the transfer of several hundred million euros linked to drug trafficking over at least three years. The operation targeted financial channels supporting criminal networks.

Clandestine operation run by Chinese national in Prato moved €80-100m a year through intermediaries 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. The clandestine bank, whose logistical base was located in Prato, north-west of Florence, has been run since 2021 by a Chinese national, officials said. Continue reading...