AML/CTF legislation country profile

ECBA Questionnaire filled in for Italy

a) Legislation

1. Definition of money laundering in the local legal system.

In Italian legislation money laundering is defined in special laws:

1. Law nr. 197 of 1991;
2. Legislative Decree nr. 74 of 2000;
3. Legislative Decree nr. 231 of 2007;
4. Law nr. 92 of 17 June 2008.

Art.648 states that money laundering is defined as followed:

Out of the case of complicity in offences, whoever, with the aim to obtain for him/herself a profit, gets, receives or hides money of things deriving from any offence, or anyhow interferes in getting them bought, received or hidden, is punished with reclusion between two and eight years and with a fine between € 516 and € 10.329.

Sentence consists of imprisonment of up to six years and a maximum fine of € 516, in cases where facts are of particular slightness.

Art.648 bis states that out of the cases of complicity in the offence, whoever substitutes or transfers money, goods or other utilities deriving from a non unpremeditated crime, or does in relation with them other operations in such a way to interfere with the identification of their criminal origin, is sentenced to imprisonment from four to twelve years and a fine of between € 1.032 and € 15.493.

Sentence is increased if the offence has been committed in the exercise of a professional activity.

Sentence is reduced if money, goods or other utilities come from an offence for which sanction is fixed to imprisonment under five years as a maximum.

2. Sanctions for money laundering offence.

Basic sanctions :

• Art. 648: imprisonment between two or eight years and a fine between € 516 and € 10.329.

• Sentence consists of imprisonment up to six years and a fine not exceeding € 516, in case where the facts are of particular slightness.

• Art. 648bis of the Criminal Code: sanctions are imprisonment from four to twelve years and a fine between € 1.032 and € 15.493.

Art. 648 of the Criminal Code: sanctions are imprisonment from four to twelve years and a fine between € 1.032 and € 15.493.

3. (Legal) professions especially affected by local AML/CTF legislation.

A summary:

- financial brokers
- professionals
- auditors of accounts
- other economic operators
are the persons indicated by law as obliged to report to Financial Information Unit of Banca d’Italia whenever they know, suspect or have reasons or suspecting that money laundering or terrorism financial actions are in course or have been tried

4. Specific regulations imposed upon attorneys at law.

b) Bar Association

1. Directives – formulated by the Bar Association – guiding the interpretation of the legislation and the force of these directives (binding, guideline,…).

Bar Associations have prepared specific guidelines. Particular attention to money laundering has been given by OUA.

An example is offered by Bar Association of  Potenza.

2. Causes for discussion at the implementation stage of the European Directive in local legislation especially in relation to a possible conflict between this legislation and your professional code of ethics?

3. Any action taken by the local Bar Association against the way in which the European directive was implemented in local legislation?

4. Other bodies that have undertaken any form of action to safeguard the rights of their members in this respect.

c) Legal practice

1. Particularities that foreign attorneys at law in contact with the local legal system should be aware of / recommendations to be taken into consideration?

d) Further information

http://uif.bancaditalia.it/UICFEWebroot/indexHP.jsp?lingua=en

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The ECBA maintains this website to provide and disseminate information on criminal procedure in the EU with regard to national money laundering legislation as it applies to attorneys at law. The content of the website relies on contacts in each jurisdiction and although our aim is to keep this information accurate, the ECBA does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or reliability of the content. This information does not constitute legal advice. If errors are brought to our attention, we will try to correct them.
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Last Updated (Thursday, 20 January 2011)