We analyze the effects of organized crime infiltrations into firms in areas with no tradition of mafia settlements. Specifically, we focus on the case of the ’Ndrangheta, a large criminal organization that originates from the South of Italy. Combining information from investigative records with data on firms’ governance, we build an indicator of ’Ndrangheta infiltrations in firms located in the Center and North of Italy. We thus show that (i) organized crime tends to enter firms in economic and financial distress and privileges sectors that most rely on public sector demand or are more money laundering prone; (ii) infiltrations generate a significant raise in the firm’s own volume of sales; (iii) the entry and growth of organized crime in new markets generally produces a displacement effect on healthy competitor firms; (iv) the final impact on the local economy is a significant contraction of total revenues.