The criminal network behind a car-rental business in Pero used shell companies to issue over €110 million in false invoices, enabling complicit businesses in construction and logistics to reduce taxable income and receive cash returns minus a commission

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Cc9f267dcClaim

Italian authorities initiated asset seizures worth over €21 million, encompassing cash, bank accounts, vehicles, jewelry, and cryptocurrency holdings

Cc9f267dcClaim

The alleged shadow bank run through a car-rental business in Pero, near Milan, combined cash from drug trafficking, tax offenses, and crypto investment scams, transferring funds through banks in Luxembourg, Lithuania, and Germany into cryptocurrency wallets

Cc9f267dcClaim

On October 21, 2026, Italian authorities targeted 30 suspects accused of running an underground bank out of a car-rental business in Pero, near Milan, that transferred about €68 million abroad

Cc9f267dcClaim

Investigators linked the underground money laundering network run through a car-rental business in Pero to Italy's 'Ndrangheta, Camorra, and Fourth Mafia organizations, alongside Chinese and Albanian accomplices

Cc9f267dcClaim

Italian financial police units in Milan and Monza Brianza alongside the Anti-Mafia Directorate deployed over 350 officers on October 21, 2026, placing 16 suspects under custodial arrest and 14 under house arrest

Cc9f267dcClaim

Two Chinese nationals allegedly assisted an underground money laundering network near Milan by collecting cash stemming primarily from tax offenses

Cc9f267dcClaim

Proceeds from the underground network run through a car-rental business in Pero were allegedly used to support imprisoned 'Ndrangheta members and supply vehicles and weapons to criminal associates in southern Italy

Cc9f267dcClaim

Italian police arrested a Milan-based lawyer in October 2026 as part of a mafia-linked money laundering investigation into a car-rental business in Pero

Cc9f267dcClaim

In April 2026, FinCEN and the Office of Foreign Assets Control proposed joint regulations requiring stablecoin businesses to maintain anti-money laundering programs and transaction-freezing capabilities

Cc9f267dcClaim

Kazakh cryptocurrency traders transitioning to authorized platforms must complete required onboarding and identity verification procedures mandated by local regulators

Cc9f267dcClaim

Fireblocks provides custody infrastructure and key management for Monfi USD (MUSD), while Chainalysis provides on-chain monitoring and sanctions screening.

Cc9f267dcClaim

The Council of Europe's Warsaw Convention Additional Protocol expands the powers of national Financial Intelligence Units (FIUs), allowing them to suspend crypto transactions if they suspect links to money laundering

Cc9f267dcClaim

The Warsaw Convention Additional Protocol modernizes the original treaty by expanding its scope to cover virtual assets, crypto assets, and virtual asset service providers (VASPs) to combat money laundering and terrorism financing.

Cc9f267dcClaim

Cryptocurrency exchange Binance participated in the U.S. Department of Justice's October 2026 joint crackdown to assist law enforcement with tracing suspected fraud and identifying suspicious accounts

Cc9f267dcClaim

Private-sector partners identified more than $11 million in funds potentially available for freezing during the West Africa scam operation led by the UK National Crime Agency

Cc9f267dcClaim

Cryptocurrency exchange Coinbase helped trace illicit funds, support asset freezes, identify more than 65 active scam victims, and prevent over $415,000 in potential losses.

Cc9f267dcClaim

The U.S. Department of the Treasury proposed using customer information, geographic restrictions, device-location checks, and transaction monitoring to support the reasonably believes counterparty location assessment in its Section 3 GENIUS Act proposal

Cc9f267dcClaim

The Blockchain Association urged the U.S. Department of the Treasury to clarify that criminal liability for knowing participation in unlawful stablecoin issuance requires actual knowledge and affirmative, substantial assistance.

Cc9f267dcClaim

Blockchain intelligence firm TRM Labs exposed a large-scale peer-to-peer laundering network during the West Africa scam operation led by the UK National Crime Agency

Cc9f267dcClaim

Italian authorities initiated asset seizures worth over €21 million, encompassing cash, bank accounts, vehicles, jewelry, and cryptocurrency holdings

The alleged shadow bank run through a car-rental business in Pero, near Milan, combined cash from drug trafficking, tax offenses, and crypto investment scams, transferring funds through banks in Luxembourg, Lithuania, and Germany into cryptocurrency wallets

On October 21, 2026, Italian authorities targeted 30 suspects accused of running an underground bank out of a car-rental business in Pero, near Milan, that transferred about €68 million abroad

Investigators linked the underground money laundering network run through a car-rental business in Pero to Italy's 'Ndrangheta, Camorra, and Fourth Mafia organizations, alongside Chinese and Albanian accomplices

Italian financial police units in Milan and Monza Brianza alongside the Anti-Mafia Directorate deployed over 350 officers on October 21, 2026, placing 16 suspects under custodial arrest and 14 under house arrest

Two Chinese nationals allegedly assisted an underground money laundering network near Milan by collecting cash stemming primarily from tax offenses

Proceeds from the underground network run through a car-rental business in Pero were allegedly used to support imprisoned 'Ndrangheta members and supply vehicles and weapons to criminal associates in southern Italy

Italian police arrested a Milan-based lawyer in October 2026 as part of a mafia-linked money laundering investigation into a car-rental business in Pero

In April 2026, FinCEN and the Office of Foreign Assets Control proposed joint regulations requiring stablecoin businesses to maintain anti-money laundering programs and transaction-freezing capabilities

Kazakh cryptocurrency traders transitioning to authorized platforms must complete required onboarding and identity verification procedures mandated by local regulators

Fireblocks provides custody infrastructure and key management for Monfi USD (MUSD), while Chainalysis provides on-chain monitoring and sanctions screening.

The Council of Europe's Warsaw Convention Additional Protocol expands the powers of national Financial Intelligence Units (FIUs), allowing them to suspend crypto transactions if they suspect links to money laundering

The Warsaw Convention Additional Protocol modernizes the original treaty by expanding its scope to cover virtual assets, crypto assets, and virtual asset service providers (VASPs) to combat money laundering and terrorism financing.

Cryptocurrency exchange Binance participated in the U.S. Department of Justice's October 2026 joint crackdown to assist law enforcement with tracing suspected fraud and identifying suspicious accounts

Private-sector partners identified more than $11 million in funds potentially available for freezing during the West Africa scam operation led by the UK National Crime Agency

Cryptocurrency exchange Coinbase helped trace illicit funds, support asset freezes, identify more than 65 active scam victims, and prevent over $415,000 in potential losses.

The U.S. Department of the Treasury proposed using customer information, geographic restrictions, device-location checks, and transaction monitoring to support the reasonably believes counterparty location assessment in its Section 3 GENIUS Act proposal

The Blockchain Association urged the U.S. Department of the Treasury to clarify that criminal liability for knowing participation in unlawful stablecoin issuance requires actual knowledge and affirmative, substantial assistance.

Blockchain intelligence firm TRM Labs exposed a large-scale peer-to-peer laundering network during the West Africa scam operation led by the UK National Crime Agency

Chinese authorities issued an arrest warrant for Wu Chaoshuai over alleged offenses connected to a loan-sharking gang and money laundering.