Italy cracks down on mafia related money laundering networks, involving 68 million euros

Italian authorities have launched an arrest operation against 30 individuals suspected of operating underground banks affiliated with the Mafia, which used cryptocurrency to launder illegal funds and transfer 68 million euros overseas. Investigators have identified 110 million euros in false invoices, and the network processed drug trafficking proceeds and online encrypted investment fraud funds, extending its operations to Spain and Switzerland (source: Bloomberg).