How Italy's New Anti-Money Laundering Laws Affect You

Law360, New York (February 18, 2014, 1:55 PM EST) -- On Jan. 1, 2014, two anti-money laundering regulations, issued by the Bank of Italy in April 2013, entered into force, which deal with customer due diligence (“DD”), and the keeping of the Single Financial Transactions Database (the "SFTD"), respectively.

In the course of 2012, a new provision was added to Legislative Decree of Nov. 21, 2007, no. 231 concerning anti-money laundering law and terrorism financing (the "decree"), pursuant to which banks, financial intermediaries and other persons to which the decree applies (the "addressees") have a duty...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.