The annual volume of suspicious transaction reports in Italy fell a modest 3 percentage points from 2022 to end at 150,000 submissions in 2023, according to UIF, the country's financial intelligence unit, while the share of subpar-quality STRs dropped after peaking at 30 percent.
With several rounds of sanctions imposed against Russia since February 2022 and another in the works that could target the Russian diamond trade, European nations have repeatedly described their commercial and financial blockade of the country as "unprecedented."
Despite Switzerland's appeal to Kremlin-friendly oligarchs, sanctions imposed against Russia played no part in the nearly 30 percent increase in the number of suspicious activity reports filed in the Alpine nation from 2021 to 2022, Swiss officials have claimed.
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