Anti-money laundering and anti-corruption strategies. The experience of the Financial Information Unit for Italy

Italo Borrello ()
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Italo Borrello: Banca d’Italia, Unità di Informazione Finanziaria, Roma. Le opinioni espresse in questo scritto non impegnano l’Istituzione di appartenenza

Argomenti, 2017, vol. 6, issue 6, 1-37

Abstract: Corruption and money laundering alter the economy and the competition in financial markets. The fight against these criminal phenomena must be developed not only on the side of the prosecution, but also on the side of the prevention, with administrative tools focused on the detection of suspicious conducts and the protection of the integrity. In the Italian anti-money laundering system the Financial Intelligence Unit acts as a “filter†between the entities obliged to report suspicious transactions and the law-enforcement authorities in charge of financial crimes investigations and prosecutions. The effectiveness of the Italian system has been recognized in the recent mutual evaluation conducted by the FATF-IMF, and the importance of the role of the UIF has been emphasized, due to the quantitative and qualitative growth of STRs, the significant contribution to the detection of financial crimes, and the capacity to cooperate and exchange information at domestic and international level. The fight against corruption could benefit from further consolidation of this role

Keywords: anti-money laundering; anti-corruption; Financial intelligence unit. (search for similar items in EconPapers)
JEL-codes: G21 G38 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:urb:journl:v:6:y:2017:p:1-37

DOI: 10.14276/1971-8357.828

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