IMF Staff Country Reports

Italy: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

February 10, 2016

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Italy: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2016) accessed November 13, 2024

Summary

This report provides a summary of the anti-money laundering and combating the financing of terrorism (AML/CFT) measures in place in Italy as at the date of the onsite visit. It analyzes the level of compliance with the Financial Action Task Force recommendations and the level of effectiveness of Italy's AML/CFT system, and provides recommendations on how the system could be strengthened. Italy has a mature and sophisticated AML/CFT regime, with a correspondingly well-developed legal and institutional framework. Law enforcement agencies access, use, and develop good quality financial intelligence. Financial sector supervisors have been using a risk-based approach to varying degrees, but their supervisory tools could be improved.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Corruption, Crime, Legal support in revenue administration, Revenue administration, Tax evasion

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Bank account, Beneficial owner, Corruption, CR, Europe, Extremist group, Financial system, Global, ISCR, Legal support in revenue administration, Organized crime, Parent company, PIE auditor, Predicate offense, Risk management, Tax evasion, TF risk

Publication Details

  • Pages:

    257

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2016/043

  • Stock No:

    1ITAEA2016001

  • ISBN:

    9781475539370

  • ISSN:

    1934-7685

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