Italian Treasury Department Takes Tough Stance Against Financial Crime, Ensuring Public Safety

The Italian Department of the Treasury is leaving no stone unturned in its efforts to combat money laundering, currency crimes, usury, and terrorism financing. As part of its comprehensive strategy, the department draws up policies and guidelines, prepares regulatory proposals, and implements measures to prevent financial crimes.

Combating Financial Crime

• The department monitors compliance with regulations and takes swift action against those who violate them, imposing administrative sanctions when necessary.
• It also plays a key role in international efforts to combat financial crime, participating actively in and coordinating activities with the Financial Action Task Force (FATF) and its Italian counterpart, the Groupe d’Action Financière Internationale (GAFI).

Supporting Individuals and Companies

• The department manages the Fund for the Prevention of Usury, which provides vital support to individuals and companies facing financial difficulties who are at risk of falling prey to usurious practices.
• The fund works in partnership with authorized organizations and associations to help those in need.

Regulatory Oversight

• The department has oversight responsibility for authorized intermediaries registered on the official list maintained under Article 106 of Italian Legislative Decree no. 385 of September 1, 1993.
• This includes removing any entities found guilty of serious violations of the law or that fail to meet the necessary registration requirements.

Additional Initiatives

• The Treasury Department is responsible for managing revenues allocated under government budget item “X” and overseeing the liquidation office of the former Directorate General for war damages.
• These efforts demonstrate the department’s commitment to transparency, accountability, and public safety in its efforts to prevent financial crime in Italy.