Anti-money laundering reports boomed in 2016, Bank of Italy handled more than 100,000

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July 4 2017

In recent years, there has been a “trend of exceptional growth in the influx of reports which, in 2016, reached 101,065 overall, a level eight times higher than was reported when the FIU (the Financial Intelligence Unit, a component of Banca d’Italia that was founded ten years ago) was established.” Claudio Clemente, Director of the FIU (which serves to fight money laundering) reported this at the presentation of the Annual Report on the Unit’s activities in 2016. He claims that 60,000 of these reports (70% overall) were deemed to be “of investigatory interest” by the Financial Guard’s Special Unit of the Monetary Police.