Remove the mold
To remove the mold odor you must remove the mold and reduce dampness.
Keep the basement at a relative humidity between 35-45% by using a dehumidifier. Have a contractor remove moldy baseboards, woodwork and insulation. Masonry walls can be treated as well and then can be waterproofed. You may have to re-grade the exterior to move water away from the house. French drains inside and out help.