Code 11 Anti-Money Laundering Sanctions Course – Case Studies, Current Operations

Structure

The course consists of a half-day, three-hour classroom session. The course includes significant hands-on learning with the practical analysis of real-world cases, proposed by the students themselves, which are then analyzed and discussed in plenary sessions or through exercises led by the instructor. Each half-day of training provides two training credits, necessary for renewing the certifications issued by the school (AMLACERT, KYCACERT, RCACERT, WSACERT) and the CAMS certification.

Program

PREVENTION OF USE OF THE FINANCIAL SYSTEM FOR ILLEGAL PURPOSES
Supranational sources
National sources
Criminal repression

PREVENTIVE DISCIPLINE OF THE RECYCLING, ADMINISTRATIVELY AND CRIMINAL
Sources
The purposes
Sanctions: the principles of the Fourth AML Directive
The problem of cumulating criminal sanctions and administrative
Preventive discipline against money laundering
criminal sanctions

MONEY LAUNDERING PREVENTION – ADMINISTRATIVE SANCTIONS
The main innovations (Legislative Decree no. 90/2017)
The new administrative sanctions (articles56-64)
The double relevance of gravity
The sanctioning procedure
The application of the sanction in measure reduced (art. 68)
Succession of laws over time (art. 69)
The deadline for the conclusion of the procedure
The Ministry of Economy and Finance circular of June 17, 2022

THE POSITION OF THE JURISPRUDENCE
– Procedural/preliminary issues
– Relationship between principal and joint obligation (the Supreme Court ruling in SSUU no. 22083 (September 22, 2017)
– The favor rei
– The obligation to report suspicious transactions
– The new formulation
– Assumptions
– The problem of cash withdrawals
– Irrelevance of previous reports
– The timeliness of the reporting
– The relevance of IT and telematic tools for the detection of anomalies (GIANOS)
– Differences between first and second obligors level – the different degree of discretion

CASES OF THE CASE
– Rome Court – ruling no. 9838/2019
– SOS obligation – operations that are legal in themselves: the case of unit-linked life insurance policies
– Rome Court – ruling no. 1478/2021
– Professionals. Relationship between proceedings sanctioning for the imposition of administrative sanctions anti-money laundering and Article 6 of the ECHR
– Nature of the judgment of opposition to sanction administrative
– Start of the limitation period pursuant to art. 14 of Law 24 November 1981, n. 689
– Autonomy of anti-money laundering assessment compared to the fiscal one, even in the case of contextuality
– SOS Assumptions
– Connection between the obligation of due diligence and the obligation of SOS
– SOS – obligation on third parties – irrelevance
– Customer due diligence obligation – identification
– The amount of the penalty must take into account the characteristics of the professional's activity

TAR FOR LAZIO (SECTION TWO)
– SENTENCE NO. 8669/2022 RESOURCE FREEZING CHEAP
Judgment no. 8669/2022 (published on 06/27/2022) of the Lazio Regional Administrative Court
– The motivation
– The connecting criterion
– The first ground of appeal: violation of Article 7 of Law No. 241/1990 which provides for the communication of the start of the procedure towards the interested parties
– The second ground of appeal: illegitimacy of the provision, due to unsuitability of the sources open to form the basis of an act infringing fundamental rights
– Open sources