Prevention of Use of the Financial System for Illegal Purposes

The Italian Department of the Treasury combats money laundering, currency crimes, usury and the financing of terrorism. It also monitors financial embargoes. With regard to these matters, it draws up policies and general guidelines; it prepares regulatory proposals and implementation measures; it monitors compliance with regulations and imposes any related administrative sanctions.

It takes part in and coordinates the activities carried out by the FATF-GAFI.

It also manages the Fund for the Prevention of Usury, which it uses to help individuals and companies experiencing financial difficulties and who are therefore at risk of usury, with the support of authorised organisations and associations.

The Department also supervises the authorised intermediaries that are registered with the official list provided for by art. 106 of Italian Legislative Decree no. 385 of 1st September 1993, removing any parties from said list that have been found guilty of serious violations of the law or that no longer meet the relative registration requirements.

These activities also include management of revenues classed under government budget item “X” and running the liquidation office of the former Directorate General for war damages.