Italy: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
IMF Staff Country Reports, February 10, 2016
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- Italy: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
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Bibliographic details
- Published: February 10, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475539370.002
Overview
- 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.
- It provides recommendations on how the system could be strengthened.
Core findings on regime maturity and framework
- 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.
Analytical focus areas (as described in the report)
- Level of compliance with the Financial Action Task Force recommendations.
- Level of effectiveness of Italy's AML/CFT system.
- Identification of areas where the system could be strengthened.
Subject areas and keywords (topics covered)
- 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 metadata (from the page header)
- Title: Italy: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
- Publication series: IMF Staff Country Reports
- Date on page: February 10, 2016
- Pages: 257
International Monetary Fund. "Italy: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism", IMF Staff Country Reports 2016, 043.