Anti-Money Laundering – FIU: working papers of the second half of 2020
The Financial Intelligence Unit published the statistics concerning the reporting and the activities carried out in the second half of 2020.
Suspicious Transaction Reports
In the second half of 2020 the obligated parties have made 60.220 Suspicious Transaction Reports, more than 10 percent compared to the same period of 2019. In 2020, the reporting have been 113.187, more than 7 percent compared to the previous period.
The Suspicious transaction reports has increased: 59.760 (more 11.1 percent) the higher data of the semester.
The reporting about the terrorist financing has decrease.
The Provisions of suspicious transaction reports adopted by the FIU has been 15.
Aggregated Anti-Money Laundering Reports
By an examination of SARA data it is obvious a substantial increase of deposit/credit transactions and more contained increase of withdrawal/charge transactions.
Gold transactions
There has been a growth especially of the foreign transactions.
Monitoring and exchange information
In the second half of 2020 the FIU has carried out one inspection assessment. The collaborative activities with the Legal authority continue to rise: the requests have grown of 26.5 percent as the number of the responses provided by investigative bodies.
Update of regulations
The Financial Action Task Force (FATF) published a case study about COVID-19 Emergency and in October 2020 has reviewed the Recommendations no. 1 and no. 2.
The main Decree-Laws regarding the primary Italian legislation
- Decree Law 76/2020, converted with amendments by the Law 120/2020 to facilitate the electronic processes for customer acquisition.
- Decree Law 100/2020, published in the Official Gazette on 11th August 2020 in transposition of the EU Directive 2018/822 c.d. Directive on Administrative Cooperation (DAC6).
Regarding the secondary Italian legislation, the FIU published:
- The new Provision for the Aggregated Anti-Money Laundering Reports relating to January 2021.
- The Communication of 9th November 2020 about the types of foreign Suspicious Transaction Reports in the freedom to provide services.
- The Communication of 10th November 2020 the new representative schemas of anomalous behaviour in tax matters.
Read or download here:
Anti-money laundering working papers
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