A dark cloud hangs over Safra Bank in Monaco amid an investigation into an alleged breach of banking secrecy.

For several weeks, an alleged breach of banking secrecy has been quietly disrupting the Monegasque financial community. At the heart of the matter, as we revealed it last JuneAdriano Fossati, a former executive at J. Safra Sarasin bank, is accused of having, in 2025, illegally accessed, extracted and disclosed confidential financial information concerning Diego Biasi, an Italian businessman residing in Monaco until March 2026.

According to evidence submitted to the case file and widely reported by several media outlets, including Monaco Matin, this information was allegedly used to compile summaries of personal assets intended to serve the interests of his mistress, Mr. Biasi's current wife, in their divorce proceedings. The complaints relate in particular to violations of banking secrecy, breaches of confidentiality of private communications, and unauthorized access to and use of the automated data processing system. Additional complaints filed against Mr. Biasi's wife include accusations of forgery, use of forged documents, attempted judicial fraud, and psychological harassment. The Financial Activities Control Commission and the Personal Data Protection Authority have both been notified.

Sources close to the investigation now indicate that Adriano Fossati has left J. Safra Sarasin bank. If confirmed, this would add an even more troubling dimension to the case: that of a senior banking executive who, after being accused of behavior directly undermining banking secrecy, appears to have left the institution while the investigation is still ongoing.

A Woman at the Heart of the Affair

The investigation also brought to light another element that had remained hidden until now. A woman is at the center of the alleged acts committed by banker Adriano Fossati. Her name is Rebecca Zanazzo.

A controversial figure whose integrity and probity are questioned, she is the current wife of Diego Biasi while allegedly maintaining a secret extramarital affair with the Safra banker.

She is implicated in the Monegasque proceedings where former banker Adriano Fossati is accused of using his privileged access to sensitive financial data to serve the interests of his mistress. And, apparently, such conduct may have a family history. Indeed, her father's criminal record raises serious questions.

According to sources, an excerpt of which we are publishing here, his father, Gino Zanazzo, born on July 31, 1953, was sentenced on July 9, 2019, by the Turin Court to four years and nine months in prison for illegal international trafficking and money laundering through an organized criminal association. The conviction was upheld in its entirety by the Turin Court of Appeal on February 3, 2022, and validated by the Supreme Court of Rome on April 18, 2023, including the confiscation of €8,287,566.82 in assets of equivalent value. The sentence is final and therefore currently being served.

This family context puts Rebecca Zanazzo's current situation in Monaco in a particularly striking light.

On one side, a father sentenced to a long prison term and the confiscation of several million euros. On the other, an executive at one of the Principality's most discreet private banks, accused of crossing the line of banking secrecy for the benefit of his mistress. According to international media, the bank is also under scrutiny for accounts allegedly linked to convicted drug traffickers from the Italian mafia organization Cosa Nostra.

But the story doesn't end there. According to our information, Rebecca Zanazzo has mysteriously obtained a three-year renewal of her residency permit in Monaco, a highly coveted privilege, despite not meeting any of the strict conditions normally required by the local authorities. Such apparent preferential treatment can only damage the reputation of a Principality that prides itself on protecting its residents.

A Case with Wider Implications

The case now goes far beyond the scope of a private dispute. It raises direct questions for both J. Safra Sarasin Bank and the Principality of Monaco regarding the actual robustness of internal controls within a banking institution, as well as the preferential treatment allegedly given to controversial and potentially dangerous individuals.

In an environment where confidentiality and discretion are among Monaco's greatest assets, the mere existence of such allegations, combined with the now documented criminal record of a close relative of one of the main figures, is enough to create a lasting climate of suspicion.

At this stage, no final conviction has been handed down in the Monegasque proceedings. Nevertheless, the established facts concerning Rebecca and Gino Zanazzo, as well as the seriousness of the accusations against Adriano Fossati, paint a picture of a case whose reputational implications for the bank and the Principality could prove considerable.