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Anti-Money Laundering regulation and sanctions regime

Author

Listed:
  • Giovanni Castaldi

    (Uif)

Abstract

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

Suggested Citation

  • Giovanni Castaldi, 2019. "Anti-Money Laundering regulation and sanctions regime," BANCARIA, Bancaria Editrice, vol. 2, pages 63-75, February.
    • Handle: RePEc:ban:bancar:v:2:y:2019:m:february:p:63-75
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    File URL: http://www.bancaria.it/en/anti-money-laundering-regulation-and-sanctions-regime
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    More about this item

    JEL classification:

    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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