Italian police target 30 suspects in €68 million mafia-linked crypto laundering probe

A car-rental business on the outskirts of Milan may have been renting out more than cars. Italian investigators suspect the company in Pero operated as a mafia-linked underground bank that moved approximately €68 million abroad, with crypto exchanges and digital wallets among the routes. On October 21, 2026, authorities moved against 30 suspects in a coordinated operation. Inside the alleged shadow bank The operation was led by Guardia di Finanza units in Milan and Monza Brianza, Italy’s financial police. The Milan Anti-Mafia Directorate, known as the DDA, was also involved in the investigation. More than 350 officers took part. Of the 30 people targeted, 16 were placed under custodial arrest and 14 were placed under house arrest. The charges include international money laundering, tax fraud, drug trafficking and criminal association aggravated by mafia methods. The alleged mechanics revolved around paperwork. Investigators say shell companies issued more than €110 million in false invoices. Clients allegedly paid against those invoices and received cash back. According to the investigation, the customers included tax evaders and drug traffickers. From there, money allegedly flowed...