This presentation shows the milestones about International and EU legal framework on AML and Counter Terrorist financing

1. Fabio Giovannini Mila Mardia Husna Melissa Cammarata
THE INTERNATIONAL AND EU LEGAL
FRAMEWORK ON ANTIMONEY
LAUNDERING AND COUNTER TERRORIST
FINANCING
2015/2016

2. MONEY LAUNDERING
The process of taking the
proceeds of criminal
activity and making them
appear legal

3. WHERE DOES
‘DIRTY
MONEY’
COME FROM?
Extortion
Insider
trading
Drug
trafficking
Illegal
gambling

4. 1. PLACEMENT
2. LAYERING
3. INTEGRATION

5. 1. PLACEMENT
Relieving the criminal of
holding and guarding
large amounts of bulky
cash
Placing the money into
the legitimate financial
system

6. 2. LAYERING
Converting cash
into monetary
instruments
Material assets bought
with cash then sold

7. 3. INTEGRATION
Now the money is fully
integrated into the
financial system and can
be used for any purpose

9. INTERNATIONAL STANDARDS
ON COMBATING MONEY LAUNDERING
AND THE FINANCING OF TERRORISM AND PROLIFERATION
FINANCIAL ACTION TASK
FORCE

11.  Implement relevant international conventions.
 Criminalize money laundering and terrorist financing
and enable authorities to confiscate proceeds from
criminal and terrorists activities.
 Establish a financial intelligence unit (FIU) to receive
and analyze suspicious transaction reports.
 Ensure effective law enforcement and prosecution of
money laundering and terrorist financing crimes.
 Implement customer due diligence.
 Ensure that comprehensive and effective mechanisms
are in place for international cooperation.

12. Largely based on international standards by the
FATF.
Money Laundering Directive
Third Directive (2005)
Fourth Directive (2015)

13. 
• Legislative Decree No. 231/2007
• Legislative Decree No. 109/2007
EU Third
Directive
Ministry of
Economy and
Finance
Finance
Intelligence
Unit
Bank of
Italy

14.  Compliant with FATF Recommendations.

16.  In 2008 Falciani began collaborating with
numerous European nations by providing
allegedly illegal stolen information relating to
more than 130,000 suspected tax evaders
with Swiss bank accounts - specifically those
with accounts in HSBC's Swiss subsidiary
HSBC Private Bank.
Hervé Falciani:
HSBC Whistleblower

17. Repressive
measures
Preventive
measures
PENALIZATION
EMPOWERMENT
IMPLEMENTATION

18. Art.648
bis
•Money
laundering
activity
Art.
648 ter
•Use of
property
of illicit
origin
Art. 648
ter.1
•Self-
laundering
REPORT on CRIMINAL
ACTIVITY
Chapter  criminal
infiltration
on the legal economy
+suspicious
transaction
reports
PUNISHMENT: IMPRISONMENTAND FINE
February
2015

19. BROADER
sense
Diplomatic
sanctions
NARROWER
sense
Arms
embargoes
restrictions on
admission of
listed persons
freezing of
assets belonging
to listed
persons/entities
Economic
activity
restrictions

20. Some means of payment
like cash are subject to
restrictions.
Cooperation between
Financial Intelligence
Units (FIUs)
Customer due diligence
(CDD)

21. UNIVERSITY OF PAVIA CONTRIBUTION
TO ANTI-MONEY LAUNDERING SYSTEM
Data base system
from a social network
analysis

22. MELISSA
FABIO
MILA