The Milan case highlights the vulnerabilities of professional football and high-risk sectors such as luxury

Edited by Sergio Silvestri

The recent operation conducted by the Milan Financial Police and the Public Prosecutor's Office uncovered a criminal network that intertwines illegal gambling, money laundering, and the use of front men. The precautionary seizure, worth a total of 1.533.753 €, involved five natural persons and one legal person, with simultaneous house arrest orders for the main suspects.

The investigation uncovered the involvement of several Serie A footballers in illegal betting activities, primarily on unauthorized platforms and in games such as online poker.

The investigations revealed the existence of a structured network operating in the Milan area, based on:

• Fake sales of luxury goods (watches and jewelry never delivered) through a jewelry store, used to disguise payments of gambling debts with fictitious reasons.
• Systematic use of front men to move money via PostePay cards, Revolut accounts and bank transfers, for over 300.000 €, more further 400.000 euros in cash.
• Promotion of illegal platforms by the bettors themselves, incentivized with bonuses and debt reductions.

Investigations revealed that some of these athletes allegedly used a Milanese jewelry store to pay off gambling debts, simulating the purchase of luxury goods that were never delivered. Furthermore, it emerged that some footballers allegedly promoted the illegal platforms among colleagues, incentivized by bonuses or debt reductions.

The emerging picture is of an opaque ecosystem that, while rooted in sports and betting, extends to payment networks and financial intermediaries that are difficult to trace. This is a typical money laundering model, which exploits regulatory gaps and weak controls.

The Sixth Anti-Money Laundering Directive: a crucial step

In this context, the VI Anti-Money Laundering Directive of the European Union (2023/2024) represents a crucial step, significantly expanding the list of entities obliged to comply with AML (Anti-Money Laundering) obligations.

Among the most significant innovations is the introduction of new obligated entities, including:

• Professional football clubs and sports agents
• Jewelers and luxury operators, with different thresholds:
• Precious items and watches: operations higher than 10.000 €
• Luxury car: operations higher than 250.000 €
• Yachts and private jets: unit value greater than 7,5 million euro
• Works of Art: transactions and intermediations higher than 10.000 €
• Crypto-Asset Service Providers

Furthermore, the criminal liability of companies and a was introduced Uniform EU limit of €10.000 for cash payments, precisely to combat tax evasion practices such as those that emerged in the Milan case.

The Directive also underlines the importance of strengthened measures due diligence (KYC) e due diligence towards high-risk customers.

Training as a prevention tool

Faced with such a complex landscape, specialized training is a key lever for preventing and combating money laundering and illicit financing.

La European School of Banking Management, With the Italian School of Anti-Money Laundering & Compliance, proposes theInternational Executive Master AML/CFT DiplomaThe most advanced international training program in the field of anti-money laundering, which includes obtaining the two most prestigious certifications in the sector: AMLACERT® e CAMS®.

The Master:

• Provides a advanced and updated preparation on AML/CFT regulations, with a focus on obliged entities, red flags, KYC, suspicious transaction reporting, and monitoring techniques.
• It is structured to form professionals capable of operating in both the banking and insurance sectors as well as in non-banking sectors, such as sports, luxury, real estate, and cryptoassets.
• It allows you to obtain certifications AMLACERT® and CAMS®, internationally recognized.

Conclusion

The case of Milan is just one of the many signs that demonstrate how the AML risk has now extended well beyond the banking and insurance sectors, infiltrating worlds such as football, luxury and alternative payment circuits. VI AML Directive It represents a strong and necessary regulatory response. But it alone is not enough.

The first real line of defense is represented by competent and adequately trained professionals, capable of recognizing the signals, reading the anomalies and intervening promptly.

It is in their preparation – in their ability to concretely apply KYC, due diligence and SOS – which is playing the most important game against money laundering today.

And only high-level training can transform this barrier into a truly effective tool.