Campaign to dismantle "ghost banks"

Italian police have just dismantled a large-scale underground bank that served organized crime groups, with funds circulating at a rate of 80-100 million euros annually through virtual payments.

Italian police during a drug bust operation. Photo: ANSA

According to authorities, this network has been operating since 2021 with its logistical base located in the city of Prato in the Tuscany region of Italy. The "ghost bank" acts as a financial intermediary, providing an anonymous payment channel for transactions related to large-scale drug shipments, allowing criminals to avoid transferring cash and evade detection and tracking. The network facilitates money transfers between Italy, Spain, France, Germany, Belgium, and the Netherlands through a commission-based intermediary system, with the total value of transactions estimated at 80-100 million euros (87-109 million USD) annually. Drug trafficking gangs and organized crime groups use this network to conduct cross-border financial transactions, evidence showing it has been operating successfully for at least three years.

According to the ANSA news agency, authorities have arrested 41 individuals in Italy and Spain in connection with the case and seized 60 million euros. The suspects are accused of multiple crimes, including involvement in organized crime, drug trafficking, money laundering, and assisting illegal immigration. Investigations revealed that the "ghost bank" network used a non-traceable payment system called "hawala," an application relatively common on underground websites and in illicit transactions, although authorities had not previously determined the extent and scale of its operation.

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Prosecutor Laura Canovai of the Prato City Prosecutor's Office stated that investigations have identified an underground bank that both facilitated illicit money transfers and organized and operated money laundering with a "high degree of professionalism." Senior members of several mafia organizations were clients, while also acting as "financial intermediaries" for other criminal groups seeking to launder money. The complex and intertwined business relationships, coupled with the multi-national criminal operation, allowed them to evade authorities for an extended period.

Major General Gaetano Mastropierro, commander of the Italian police operation, said: “That made the investigation complicated. Normally, we start with a known criminal group and trace back to find the source of the money laundering. But in this case, we found a huge amount of money that appeared to be transferred legally, but actually originated from criminal activity. A large part of the time was spent proving that the money came from counterfeiting, tax evasion, illicit income, and human trafficking.”

Prato, the capital of Italy's textile industry, has in recent years become a "backyard" for rival mafia gangs vying for market control. The Italian Drug Enforcement Agency (DDA) points out that illegal money laundering activities generate hundreds of millions of euros in profits. These gangs have formed a dense network of transporters and collectors of money between Italy and other countries. To erase traces of illicit drug trafficking money and avoid seizure by police in other countries, all transactions are conducted in cash. However, they circulate this money within a "clean money" flow by establishing shell companies disguised as textile or fashion businesses based in Prato.

Furthermore, authorities warn that organized crime in Italy has evolved into various forms of illegal activity, such as organizing illegal gambling dens, prostitution, or smuggling migrants. Investigations have also revealed a branch of a "phantom bank" network operating a human trafficking ring that smuggles migrants into the European Union (EU). They charge each migrant up to 9,500 euros (over $10,000) for the journey to various locations in Italy.

The clandestine money transfers and financial activities carried out by the mafia are therefore directly linked to many forms of crime. This elusive system allows someone abroad to pay a broker in Italy to act as an "agent." This agent, in turn, has a branch elsewhere in the world , which facilitates the transfer of funds to the recipient. At each step, members of the network deduct their commission, enabling them to transfer money successfully while easily dividing the profits.

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Source: https://baoangiang.com.vn/chien-dich-triet-pha-ngan-hang-ma--a489574.html