Italy Country Summary
Medium-Low Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Lower Concern
Corruption
Medium Concern
US State ML Assessment
Higher Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Italy is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The latest follow-up to the Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Italy was undertaken by the Financial Action Task Force (FATF) in 2019. According to that Evaluation, Italy was deemed Compliant for 18 and Largely Compliant for 20 of the FATF 40 Recommendations. It was deemed Highly effective for 0 and Substantially Effective for 8 of the Effectiveness & Technical Compliance ratings.
Sanctions
There are currently no international sanctions in force against Italy.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 53 |
| World Bank: Control of Corruption Percentile Rank | 68 |
Italy faces significant challenges related to corruption and organized crime, which hinder investment and economic growth, particularly for small and medium-sized enterprises. Despite the establishment of the Anti-Corruption Authority and various legislative measures aimed at reducing corruption, local-level issues persist, and the influence of traditional mafia groups remains a major concern across multiple criminal markets.
Economy
Italy's economy ranks as the eighth largest globally and the third largest within the EU, demonstrating competitiveness in sectors such as business services, agriculture, fashion, and industrial production. Following a COVID-related slowdown, Italy's economy grew by 0.7 percent in 2023, with a public debt to GDP ratio of 135.3 percent as of 2024, reflecting a significant decrease from its peak in 2020. The National Recovery and Resilience Plan (NRRP), funded by over €200 billion from EU sources, aims to address long-standing economic challenges while promoting investment opportunities, particularly for U.S. investors, though bureaucratic inefficiencies remain a concern that could affect the investment climate.
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