(Finance) – The Bank of Italy published the seventh issue of Booklet on money laundering and terrorist financing cases which collects, in continuity with the previous ones, a selection of the most recent and relevant cases explored in depth by theFinancial Information Unit for Italy through the analysis of suspicious transaction reports.
“With reference to the topics addressed, particular importance was attributed to the correct management of community resources – explained the director of the Financial Information Unit for Italy, Enzo Eveningat the beginning of the document –. In fact, there are numerous cases in which public funds intended to support and relaunch the economy have been used improperly by the beneficiary companies, often part of networks attributable to a common management; Furthermore, undue access to facilitation measures was detected, sometimes facilitated by a disorganized credit disbursement process with an uncertain distribution of responsibilities in terms of anti-money laundering safeguards; finally, a scheme of potential fraud to the detriment of the Public Administration was reconstructed through the provision of fictitious guarantees by unauthorized foreign entities”.
“The use of techniques of analyses financial increasingly advanced and diversified: in one case, the use of innovative analysis tools blockchain it allowed us to reconstruct possible connections between natural/legal persons plausibly involved in war scenarios, some of whom were recipients of financial sanctions at an international level; in another, the application of the metrics of network analysis it allowed the development of extensive subjective connections in a case of monetization carried out by a network of professional gold operators, also reconstructed thanks to the exploitation of the declarations of gold operations received by the Unit”, he added.