News

To Protect Economic Recovery, Italian Officials Must File More STRs

By Gabriel Vedrenne

Italy's financial intelligence unit, also known as UIF, received nearly 140,000 suspicious transaction reports in 2021, a year-on-year increase of 23 percent that the agency handled using artificial intelligence and other new technologies to help sort and analyze filings. STRs filed by the 152 government departments, municipalities, companies and other entities that comprise the public sector in Italy and have registered with UIF showed the sharpest uptick by percentage after nearly tripling from just 47 submissions in 2020 to 128 submissions in 2021, according to the agency's latest annual report. But two "publicly held companies" that the report does not...

TO READ THE FULL STORY