Proposed new provisions in AML internal organization, procedures and controls.
Aimed at preventing money laundering, terror finance in banks, intermediaries.
Implemented the legislative decree of Nov. 21 2007, n. 231, as amended by Legislative Decree May 25 2017, n. 90, implementing Directive (EU) 2015/849.
New requirements are based on risk-based approach, with self-assessment test and policy which defines ways to concretely fulfill the required AML obligations.
Effectiveness
Comments and proposals may be sent within 60 days from date of publication.
Mar. 2019 Provisions
On Mar. 27, 2019, ITA CBissuedprovision of Mar. 26 on organization, procedures and internal controls on anti-money laundering following Apr. 2018 consultation.
Implemented provisions re organization, procedures and internal controls in Nov. 21, 2007, decree 231, amended by May 25, 2017, decree 90, on AMLD4.
Provides guidance on requirements, procedures, control systems, functions of AML central point of contact, for purposes of EU RTS on central contact points.
In force 15 days after publication in OJ, applying Jun. 1, 2019, or Jan. 1, 2020.
Nov. 2024 Amendment
On Nov. 26, 2024, ITA CB issued provision amending AML/CFT reporting rules of 2019.
Repealed Section II (Information data relating to transfers of funds), Part Five of Provisions on organization, procedures and internal controls aimed at preventing use of intermediaries for purposes of money laundering, terrorist financing of Mar. 26, 2019.
Provision 2310097/24, Res 381 of Nov. 26, 2024 enters into force on Dec. 30, 2024.
Dec. 2024 Gazette Publication
On Dec. 10, 2024, ITA CB published measure of Nov. 26 re amendment to ITA CB provisions on organization, procedures and internal controls aimed at preventing use of intermediaries for the purposes of money laundering and terrorist financing 2019.
It also published Measure of Nov. 27, 2024 on amendments to the same rules Res 382.
The changes, in annex, relate to new part 8 Periodic Anti-Money Laundering Reports and enter into force 15 days post official publication i.e. Dec. 26, 2024.
Regulators
ITA CB
Entity Types
B/D; Bank; IA; IB; Ins; Inv Co; MSB
Reference
OG 289, 24A06580, 24A06579, 12/10/2024; Res 382, 11/27/2024; Prov 2310097/24, Res 381, 11/26/2024; PR 3/27/2019; Rules 3/26/2019; CP, 4/13/2018; AMLD Dir 2015/849; Reg 2018/1108; JC/GL/2017/16; Citation: Provision 2310097/24; Res 382;
