On 15 June 2023, the Bank of Italy published on its website a series of acts aimed at reviewing the domestic AML rules to comply with EBA Guidelines on the use of remote customer onboarding solutions....more
The long-awaited decree regarding the establishment and regulation of the beneficial owner register in Italy was published in the Italian Official Gazette. Following a public consultation, on 25 May 2022 the long-awaited...more
The Italian Ministry of Economy and Finance launched a public consultation on the long-awaited draft decree for the establishment of the Italian register of payment services agents, e-money distributors and central contact...more
The Counsel of State suspended the adoption of its opinion on the draft decree of the Ministry of Economy and Finance setting up and governing the functioning of the Italian register of ultimate beneficial owners causing a...more
Italian news on on-line KYC for AML purposes, including the possibility to rely on SCA when certain conditions are met, have been confirmed.
On 14 September, Law Decree No. 76/2020 regarding urgent measures for...more
The Italian Government recently issued a Law Decree which, among other things, modified on-line KYC for AML purposes, including the reliance on SCA when certain conditions are met. ...more
On 16 April 2020 the Italian Financial Intelligence Unit (FIU) published a communication stressing the need for intermediaries, professionals, other qualified entities and public administrations to calibrate AML measures in...more
4/21/2020
/ Anti-Money Laundering ,
Coronavirus/COVID-19 ,
Electronic Payment Transactions ,
Financial Crimes ,
Financial Institutions ,
Financial Intelligence Unit (FIU) ,
Information Technology ,
Italy ,
Liquidity ,
Money Laundering ,
Reporting Requirements ,
Scams
On the basis of the measures recently adopted by the Italian Government to face the current COVID-19 emergency, on 10 April 2020, the Bank of Italy issued its recommendations to financial intermediaries on (i) anti-money...more