On Jun. 25, ITA CB amended AML rules for cash-handling operators.
ITA CB published Provisions of Jun. 16, 2025, for the registration and management of the list referred to in art 8 of Legislative Decree No 350 of Sep. 25, 2001, converted, with amendments, by Law No 409 of Nov. 23, 2001, as well as on the organization, procedures and controls in anti-money laundering matters for non-financial operators registered in the list.
ITA CB also published Provisions of Jun. 16, 2025 on adequate customer verification and data and information retention for non-financial operators registered in the list referred to in art 8 of Legislative Decree No 350, of Sep. 25, 2001.
The rules concern non-financial operators who carry out licensed activities of custody and transportation of cash and securities or assets by means of private sworn guards.
Amendments to the definition of terms, to the list registration requirements and relevant request, procedure to examine the applications, start of cash handling activity.
Also, changes to requirements for professionalism of the company's representatives.
Extension of reporting obligations to ITA CB to license data and corporate transactions.
Obligation for operators to appoint an AML representative for continuous monitoring.
Changes to the criteria for conducting risk self-assessment; client profile; penalties.
Effectiveness
Both provisions enter into force on the 13th day following the date of publication, on Jul. 7, 2025; they repeal the provision of Apr. 23, 2019, and that of Feb. 4, 2020.
Regulators
ITA CB
Entity Types
Corp
Reference
OG 144, 25A03558, 25A03559, 6/25/2025; Prov 6/16/2025; Rpl Prov 4/23/2019; Rpl Prov 2/4/2020; LD 350, 9/25/2001; Law 409, 11/23/2001
