I got rid of it almost completely with RivaTuner Statistics Server which comes with MSI Afterburner and limiting FPS to 50. It is much better than 60 FPS or uncapped which is 63 FPS in this game, at least on my system with GTX 1070 and 2560x1440 monitor with 75 Hz.

But there's also Scanline sync option which supposedly removes tearing alltogether.
I tried at least 20 numbers between -1 and -700 while keeping Framerate limit at 0, but didn't get any better results. I don't even know if there's a way to know which number you must put in. Because trying 1000 or so numbers is too time consuming. I read something about this and you must move the scanline so that it goes out of the visible space of the monitor. But how do you find this scanline, I have more than one line that is tearing the image.
Maybe it doesn't even work in all games.
I also have to try NFS 2-5, all those games are limited by 64 FPS, but I don't think they have screen tearing issue. Maybe because you don't move the mouse like in Mafia.

Some good explanation is found here:
https://forums.guru3d.com/threads/scanline-sync.423028/#post-5586133