The Guardia di Finanza in Milan and Monza Brianza dismantled a suspected “shadow bank” run for organised crime, including alleged invoice fraud and cryptocurrency laundering. Investigators say the operation led to 30 arrests for criminal association, aggravated by mafia-style methods. They uncovered more than 110 million euros in false invoices and 68 million euros in international money laundering using cryptocurrencies, while seizures totalling 21 million euros are underway. Prosecutors allege the “shadow bank” hid behind the formal facade of a car-hire company in Pero, in the Milan area. Three Italians were targeted, described as having links to mafia organisations, with support from Chinese and Albanian accomplices. According to the Milan Public Prosecutor’s Office, the group offered a service to issue invoices for non-existent transactions. After receiving bank transfers to pay the fake invoices, suspects would reverse the process by returning equivalent amounts in cash through couriers to complicit business owners, with the cash said to be proceeds of tax evasion and drug trafficking. Investigators say the accumulated funds were then almost entirely moved to foreign current accounts or used to buy cryptocurrency, which is difficult to trace. The scheme allegedly helped drug traffickers and tax evaders operate through clandestine “underground banking” methods that bypass anti-money laundering safeguards. The operation involved more than 350 officers from the Guardia di Finanza, including specialist units and the Corps’ Anti-Terrorism Rapid Response unit. Searches and arrests were carried out in Italy, with additional actions in Spain and Switzerland supported by Interpol’s I-CAN unit and coordinated through contacts in Madrid and Bern. Police seized cash, bank accounts, cryptocurrencies, cars, boats, jewellery, luxury watches, and money-counting machines. Among those arrested was Domenico Bruno, described as a driver at the Milan Preliminary Investigating Magistrate’s Office who was responsible for seized assets. He was placed under house arrest and is accused of unauthorised access to a computer system. A lawyer from Milan is also implicated in the investigations.