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

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Volume/Issue: Volume 2006 Issue 084
Publication date: March 2006
ISBN: 9781451819977
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Public Finance , ISCR , CR , AML law , criminal offence , organized crime , banking law , legislative decree , due diligence , joint stock , CFT supervision , financial institutions , holding company , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Terrorism financing , Money laundering , Legal support in revenue administration , Nonbank financial institutions , Southern Europe , North Africa , North America , Eastern Europe , Europe

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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.

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