Italy
Italy
FINCARR Status: Full Member
Summary
Italy is a full member of the FINCARR and has consistently worked on strengthening its Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) measures in line with FINCARR recommendations.
Key Measures
- AML/CFT Legal Framework: Italy has implemented robust laws such as the Anti-Money Laundering Law and the Counter-Terrorism Law.
- Financial Intelligence Unit (FIU): The Italian Financial Intelligence Unit (UIF) plays a pivotal role in detecting financial crimes and exchanging information with other countries.
- International Cooperation: Italy is an active member of FINCARR and cooperates with several international organizations to combat financial crimes globally.
Action Plans
Italy is continuously enhancing its legal and regulatory frameworks to combat money laundering and terrorist financing, ensuring compliance with international standards and recommendations.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Compliant |
| Recommendation 2: Legal Framework | Compliant |
| Recommendation 3: Transparency of Financial Transactions | Fully Implemented |
| Recommendation 4: Customer Due Diligence | Compliant |
| Recommendation 5: Financial Intelligence Unit | Compliant |
International Cooperation
Italy actively collaborates with global bodies such as FINCARR, the European Union, and the United Nations to prevent financial crimes and enhance international enforcement efforts.