Italy: Financial Sector Assessment Program: Detailed Assessment Report on Anti: Money Laundering and Combating the Financing of Terrorism

March 2, 2006

Preview Citation

Format: Chicago

Italy: Financial Sector Assessment Program: Detailed Assessment Report on Anti: Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2006) accessed November 21, 2024

Summary

This Detailed Assessment Report focuses on Anti–Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Italy. The assessment reveals that overall, the current AML/CFT framework in Italy is extensive and mature, and achieves a high degree of compliance with most of the Financial Action Task Force (FATF) 40 recommendations. The law enforcement efforts against money laundering have been quite successful. The AML/CFT preventive system is quite sophisticated, but needs to be updated to incorporate the new features of the revised FATF standard with respect to financial institutions and nonfinancial businesses and professions.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Financial institutions, Legal support in revenue administration, Money laundering, Nonbank financial institutions, Revenue administration, Terrorism financing

Keywords: AML law, Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking law, CFT supervision, CR, Criminal offence, Due diligence, Eastern Europe, Europe, Financial institutions, Holding company, ISCR, Joint stock, Legal support in revenue administration, Legislative decree, Money laundering, Nonbank financial institutions, North Africa, North America, Organized crime, Southern Europe, Terrorism financing

Publication Details

Pages:

139
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/084
Stock No:

1ITAEA2006010
ISBN:

9781451819977
ISSN:

1934-7685

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