The Financial Action Task Force published a mutual evaluation report on Italy’s anti-money laundering, counter-terrorist financing and counter-proliferation financing framework, based on an on-site visit in June to July 2025. The assessment finds a generally strong, whole-of-government approach and substantial effectiveness in many areas, but calls for fixes to shortcomings including access to beneficial ownership information and aspects of supervision and sanctions. Key findings include well-developed national risk understanding and coordination via the Financial Security Committee, effective use of financial intelligence, and strong investigative and asset recovery capabilities, with authorities confiscating over EUR 7 billion over the evaluation period. At the same time, the report highlights that the beneficial ownership register is suspended, limiting access even for competent authorities and leaving no sufficient alternative mechanism; sanctions for some register-related breaches are described as limited and often not dissuasive. It also points to weaknesses such as uneven risk understanding and preventive measures across designated non-financial businesses and professions, weaker compliance in the virtual asset service provider sector, and deficiencies affecting deterrence including lack of publication of certain sanctions and long timelines for imposing sanctions. Italy received a three-year roadmap of key recommended actions and was placed in regular follow-up, with an expectation to report back to the FATF on progress.
Financial Action Task Force 2026-04-23
Financial Action Task Force places Italy in regular follow-up after mutual evaluation highlights beneficial ownership access gaps
The Financial Action Task Force published a mutual evaluation report finding Italy’s anti-money laundering, counter-terrorist financing and counter-proliferation financing framework generally strong and effective, with robust national risk understanding, coordination, financial intelligence use and asset recovery, including over EUR 7 billion confiscated. However, the report highlights significant shortcomings in access to beneficial ownership information, uneven preventive measures across designated non-financial businesses and professions, weaker compliance among virtual asset service providers, and sanctions that are often limited, non-dissuasive and delayed. Italy has been placed in regular follow-up with a three-year roadmap of recommended actions and must report back on progress.