ItalyBanco D’Italia published a summary of its annual report for 2021 in English, highlighting regulatory efforts in light of the COVID-19 pandemic and the spread of digital technologies leading to profound changes in demand and supply for financial products and services.
The Group of Seven Finance Ministers issued a joint communiqué following a meeting in Germany, highlighting their commitment to a coordinated sanctions response to Russia’s aggression and support for the Financial Action Task Force’s ongoing efforts to enhance beneficial ownership transparency.
Erdogan freezes assets of political opponents, U.K. lawmakers demand stronger AML reforms, and more, in the weekly roundup.
Accused NatWest money launderer stands trial, pressure builds on EY in Germany, and more, in the weekly roundup.
The Bank of Italy issued a decision requiring the Milan, Italy branch of ING Bank to refrain from engaging in transactions with new customers following a finding of shortcomings in compliance with anti-money laundering requirements.
| Technical | Effectiveness |
|---|---|
| Compliant : 18 | High : 0 |
| Largely Compliant : 20 | Substantial : 8 |
| Partially Compliant : 2 | Moderate : 3 |
| Non-Compliant : 0 | Low : 0 |
Italy's technical compliance was re-rated in a March 27, 2019 follow-up report
| Rank : 27/110 |
| Score : 4.57/10 |
| Rank : 52/179 |
| Score : 53/100 |
| Rank : 41/133 |
| Score : 50/100 |