Featured Italy

Italy: 71 ‘Ndrangheta Arrests in the Rich North

Italian authorities have announced the arrest of 71 suspected members of the country’s most powerful crime syndicate on drug trafficking and money laundering charges. A three-years-long nationwide operation named Cerberus after the three-headed hound of Greek mythology that guards the gates of the Underworld, culminated in the dismantling of two… Read More

EU heavyweight states push for joint supervisor against money laundering

The European Union’s largest states are pushing for the establishment of a new supervisory authority that would take over from states the oversight of money laundering at financial firms, after a series of scandals at the bloc’s banks. In a joint statement, Germany, France, Italy, Spain, the Netherlands and Latvia… Read More

Court thwarts bid to stop Satabank €1.5m release to ‘dirty oil’ suspect

Malta’s financial regulator has lost a bid to stop the shuttered Satabank from releasing funds from the bank account of an offshore company belonging to ‘Dirty Oil’ suspect Gordon Debono. Debono is facing criminal charges related to a €30 million oil-smuggling ring in Catania, Sicily, together with conspirators Darren Debono,… Read More
31st October 2019
Italian mafia networks have become less high profile in recent years as they spread their activities into new sectors, but they are just as dangerous, the interior minister, Luciana Lamorgese, has said. Citing new data, Lamorgese said that organised crime groups “have made extensive transformations” while adopting “increasingly complex” models… Read More
21st October 2019
Major European players are joining forces to block Facebook’s proposed digital currency because of the dangers it poses to national sovereignty, French Economy Minister Bruno Le Maire announced Friday. The firm opposition from France, Italy and Germany added to the mounting resistance faced by the tech giant’s troubled foray into… Read More
21st October 2019
An Italian judge has accepted a request by UBS (UBSG.S) to pay more than 10 million euros ($11 million) to settle a money-laundering investigation, ending one of the Swiss bank’s biggest legal headaches in Europe. “We are pleased to have resolved this matter,” a UBS spokesperson said in… Read More
3rd October 2019
Prosecutors have wrapped up a probe into alleged fraudulent diamond selling by some of Italy’s top banks, having investigated high profile executives working for UniCredit (CRDI.MI) and Intesa Sanpaolo (ISP.MI), a prosecutor document showed. The document, seen by Reuters on Wednesday, showed the number of people… Read More
3rd October 2019
Five Vatican employees, including the number two at the Vatican’s Financial Information Authority (AIF) and a monsignor, have been suspended following a police raid, the Italian magazine L’Espresso reported on Wednesday. The scandal, affecting two departments at the heart of the Vatican, was the first after several years of relative… Read More
18th September 2019
A radical plan to discourage cash payments and reduce runaway tax evasion has some Italians up in arms. With one of the highest tax rates in Europe, Italy lost 107.5 billion euros ($118.5 billion) to tax dodging and under-reporting in 2016. The country has an evasion rate of about… Read More
17th September 2019
Twelve leaders of hardcore Juventus “ultra” football fan groups have been arrested on suspicion of criminal association, money laundering, violence and aggravated extortion in connection with ticket sales. The suspects allegedly threatened to sing racist chants during matches if the Italian Serie A champions’ ticketing officials did not hand… Read More
13th September 2019
The tiny republic of San Marino has confiscated €19 million (£17 million) stashed in its banks by one of Africa’s longest-serving leaders. The money was allegedly deposited by Denis Sassou Nguesso, the president of the Republic of Congo, the former French colony also known as Congo-Brazzaville. The seizure of the… Read More
26th August 2019
Iran’s foreign minister made a flying visit for talks with host France at the G7 summit on Sunday, as Paris ramped up efforts to ease tensions between Tehran and Washington, a dramatic diplomatic move that the White House said had surprised them. European leaders have struggled to tamp down the… Read More
12th August 2019
Pope Francis has approved new statutes for the Vatican Bank, making an external audit obligatory and introducing other changes to bolster reforms that have turned around the once scandal-ridden institution. The statutes, approved in a papal document released by the Vatican on Saturday, cap more than six years of changes… Read More