The Bank of Italy published the results of a qualitative survey of a sample of medium-sized banks on their use of innovative tools to meet anti-money laundering and counter-terrorist financing (AML/CFT) requirements. The report sets out the potential benefits of these tools alongside the related risks, and identifies conditions and prerequisites needed for banks to fully realise the expected advantages. The survey focused on banks that, between 2022 and 2024, showed a strong aptitude for innovation and had already integrated innovative tools into their AML/CFT controls. The publication is intended to raise awareness among supervised banks of the need for a clear digital transformation strategy for AML/CFT, against a backdrop of high transaction volumes, increasing remote customer relationships, and criminal activity that is increasingly transnational and technologically sophisticated.
Bank of Italy 2025-09-02
Bank of Italy publishes survey on the use of innovative tools for AML and CFT compliance by medium-sized banks
The Bank of Italy released a survey on medium-sized banks' use of innovative tools for anti-money laundering and counter-terrorist financing (AML/CFT) compliance. The report highlights the benefits and risks of these tools and emphasizes the need for a clear digital transformation strategy amid rising transaction volumes and sophisticated criminal activities.