Implementing the new anti-money laundering directive in Europe: legal and enforcement issues; the Italian case
Stefano Costa ()
Global Business and Economics Review, 2008, vol. 10, issue 3, 284-308
In this paper, a first assessment of the 2007 reform of the Italian Anti-Money Laundering (AML) law is presented. In light of the relevant literature on AML, the reform seems to improve the Italian AML framework in many ways, but there persist some drawbacks on both the legal and the enforcement sides. As for the former, there are some advances in the definition of Money Laundering (ML) and the institutional framework, but a closer coordination with other specific legislations and some adjustments in the sanctions regime would be needed. On the enforcement side, the risk-based approach and the inclusion of professional associations among AML agents are promising, but the persisting noticeable gap in the number (and significance) of Suspicious Transactions Reports (STRs), both across the categories of agents and the geographic areas, needs to be explored to investigate the possible influence of (polluting) environmental factors hampering the implementation of the AML regulation.
Keywords: money laundering; Italy; enforcement; anti-money laundering regulation; suspicious transactions. (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ids:gbusec:v:10:y:2008:i:3:p:284-308
Access Statistics for this article
More articles in Global Business and Economics Review from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Carmel O'Grady (). This e-mail address is bad, please contact .