The Zenit St Petersburg defender will not participate in this summer's European Championship after being questioned by police for his alleged role in the Scommessopoli scandal
The left-back's room at Italy's training camp in Coverciano was searched by police on Monday morning as part of an investigation into match-fixing in Italian football.
Now, the governing body has consequently decided not to send the Zenit St Petersburg man to this summer's European Championship due to recent events.
"Criscito will not be part of the team that represents Italy at Euro 2012. His priority now is to clarify what happened today [Monday]," Albertini confirmed at a press conference.
"Although he has insisted that he has not played a role in any of this, he is very sorry to have got the national team involved."
Criscito was widely expected to be named in Italy's final 23-man squad, but national team coach Cesare Prandelli will have to make do without the left-back in Poland and Ukraine.
Italy meet Croatia, Republic of Ireland and Spain in the group stages of the competition.