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Customer due diligence in recent Italian anti-money laundering rules

Author

Listed:
  • Giovanni Castaldi

    (Banca d’Italia)

Abstract

In the complex regulatory system concerning anti-money laundering, which is still evolving with the proposal of the Fourth Directive, banks are required to play an active role to protect the legal economy. Thanks to rigorous procedures ensuring a better knowledge of the customer and assessing the risks associated with him, banks can identify additional controls to be put in place. The transposition of the new Directive in the Italian legislation will be an opportunity to define aspects as the development of new models for risk assessment and a deep change in the system of administrative sanctions

Suggested Citation

  • Giovanni Castaldi, 2013. "Customer due diligence in recent Italian anti-money laundering rules," BANCARIA, Bancaria Editrice, vol. 10, pages 72-88, October.
    • Handle: RePEc:ban:bancar:v:10:y:2013:m:october:p:72-88
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    File URL: http://www.bancaria.it/en/customer-due-diligence-in-recent-italian-anti-money-laundering-rules/
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    More about this item

    JEL classification:

    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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