ItalyThe G7 finance ministers and central bank governors issued a communiqué outlining a shared commitment to deeper multilateral economic cooperation, including support for a global minimum tax of at least 15 percent and the implementation Financial Action Task Force Standards.
Ministers from the G7 countries signed a joint statement ahead of a special session of the United Nations General Assembly against corruption, highlighting that corruption enables organized crime and economic crime.
In Europe, Coronavirus STRs Often Spark Investigations
Suspicious transaction reports filed on potential fraud and embezzlement schemes against government financial assistance programs during the novel coronavirus pandemic in Europe have shown higher quality in general than STRs submitted on other financial crimes
Taiwan fines Citibank and DBS Bank for AML breaches, Australia bans high-rollers from Crown casino in Perth, 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 : 99/141 |
| Score : 4.61/10 |
| Rank : 51/180 |
| Score : 53/100 |
| Rank : 41/133 |
| Score : 50/100 |