Anti-Financial Crime & Financial Crime Compliance
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EU, EU/Europe, US

INSIGHT: How Italian drugs cartels conceal payments using Chinese shadow banks

By Emilio Parodi

Drug cartels operating in Italy are increasingly using shadow networks of unlicensed Chinese money brokers to conceal cross-border payments, according to Italian judicial and law enforcement authorities.

The development highlights how an issue that U.S. authorities have been battling in connection to Latin American narcotics groups has taken root in Europe.

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