Regulatory Alerts2007-11-21
Anti-Money Laundering and Counter-Terrorist Financing - Legislative Decree No. 231/2007 and Related Provisions
The Bank of Italy and the Ministry of Economy and Finance have issued a comprehensive regulatory framework under Legislative Decree No. 231/2007 to implement EU directives on preventing money laundering and terrorist financing. These provisions mandate strict internal controls, customer due diligence, and standardized reporting procedures for financial intermediaries and auditors. The regulations establish specific anomaly indicators, technical standards for data archiving, and detailed sanctions procedures to ensure compliance with anti-money laundering obligations.
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