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Archive » February 2019 » Anti-Money Laundering regulation and sanctions regime

Anti-Money Laundering regulation and sanctions regime

Giovanni Castaldi
February 2018 - n. 2
Keywords: Antiriciclaggio, normativa, sanzioni
Jel codes: K40, K42

Over the years, Anti-Money Laundering Italian legislation has become increasingly complex and full of pitfalls even for the most diligent banking operators. According to the risk-based approach, banks may be granted flexibility in deciding on the most effective way to address risks, but this principle coexists with the provision of particularly strict administrative sanctions, often not inspired to uniform criteria, the application of which does not allow an adequate consideration of good faith and the spirit of cooperation of intermediaries. 

                                                                                                     

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