Italy's measures to combat money laundering and terrorist financing

Mutual Evaluation Report Italy - 2016

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The International Monetary Fund (IMF) conducted an assessment of Italy’s anti-money laundering and counter-terrorist financing (AML/CFT) system, based on the 2012 FATF Recommendations, and using the 2013 Methodology. The assessment is a comprehensive review of the effectiveness of Italy's AML/CFT system and its level of compliance with the FATF Recommendations.

Italy has a strong legal and institutional framework to fight ML and TF. Authorities have a good understanding of the money laundering (ML) and terrorist financing (TF) risks the country faces. There is generally good policy cooperation, coordination, and financial intelligence gathering and use. The authorities are able to successfully undertake large and complex money laundering and terrorist financing investigations and prosecutions, and beneficial ownership information is generally accessible to authorities.

There are areas where improvements are needed. Italy should enhance its ML investigative and prosecutorial action on risks associated with self-laundering, standalone money laundering, and foreign predicate offenses, and the abuse of legal persons. Italy should enhance the accessibility of relevant information and dissemination of analysis by its FIU, strengthen sanctions, and improve financial sectors’ and DNFBPs’ understanding and implementation of requirements for beneficial ownership identification.   

This report was adopted by the FATF at its Plenary meeting in October 2015.  

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Full report

Executive summary

Earlier reports on Italy's measures to combat money laundering and terrorist financing

Key findings, ratings and priority actions:

 

More information: 

FATF Recommendations

FATF Methodology for assessing technical compliance with the FATF Recommendations and the Effectiveness of AML/CFT systems