In recent years, the importance of studying criminal infiltration in firms, especially in the context of accounting practice, cannot be underestimated. The paper aims to analyse firms under judicial administration (JA) to better understand where firms operate by investigating whether certain financial ratios can serve as red flags indicating criminal infiltration. The study examines a sample of 108 firms operating in the Italian context undergoing JA. Findings show that most of the firms were small, located in the south of Italy, structured as limited liability companies, active but undergoing insolvency procedures, and operating in the construction, wholesale and retail trade, car and motorcycle repair, rental, travel agencies, business support services, and real estate sectors. The analysis shows that firm size, performance, and debt can be used as red flags to indicate criminal infiltration. The results provide useful insights for understanding how accounting practices can help to identify criminal infiltration in firms.