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Reuters
Reuters
World
By Emilio Parodi

Italian drugs cartels conceal payments via Chinese shadow banks

Seized drugs are seen following an investigation on drugs cartels operating in Italy increasingly using shadow networks of unlicensed Chinese money brokers to launder their proceeds in this handout photo obtained by Reuters on April 4, 2023. Carabinieri/Handout via REUTERS

Drugs 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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