Armed robbers use a speedboat to steal €1.7 million in a Venice canal robbery reminiscent of The Italian Job

In a heist reminiscent of The Italian Job, armed robbers have used a speedboat to steal €1.7 million (£1.1m), which was being transported aboard another motorboat on a canal in Venice.

The money was destined for banks and post offices in Venice and was being carried on a courier boat when the robbers struck on Monday morning.

An armoured van delivered three cases, two containing banknotes and one containing coins, to the courier boat, but shortly after it left its berth the robbers’ boat swept alongside.

One of the robbers held a gun to a security guard’s head while his accomplice took the two cases containing banknotes.They then sped off in their speedboat through Venice’s maze of canals before any pursuit could be organised.

Officials from the local armoured courier company Civis declined to give details about the robbery aboard one of its boats, but the city’s police have launched a hunt for the robbers and for the missing money.