With great satisfaction, the Italian Anti-Money Laundering School welcomes the restoration of the Directorate General for the Prevention and Countering of the Use of the Financial System for Illicit Purposes, formalized by the Council of Ministers of February 19, 2025This intervention marks a return to a structure that already existed at the Ministry of Economy and Finance until 2019 and responds to the need to strengthen national and international coordination in the fight against financial crimes, in an increasingly complex and interconnected regulatory and economic environment.

A necessary and strategic intervention

In recent years, the Treasury Department has undergone numerous reorganizations, culminating in the separation between Treasury Department e Department of Economics in 2024. This process had impacted the organization of the offices at a critical time, first due to the pandemic and then the international crisis following the invasion of Ukraine. The need arose to strengthen the work of the Ministry of the Economy and Finance, which is responsible for regulating and coordinating national activities to prevent and combat money laundering and terrorist financing.

The reinstatement of the Directorate comes at a crucial time, coinciding with three key elements:

• Implementation of the Sixth AML DirectiveThe European Union is strengthening anti-money laundering measures, increasing the transparency and traceability of financial transactions.
• Birth of the AMLA (Anti-Money Laundering Authority): the new European supervisory authority, which will be responsible for harmonizing supervisory practices across Member States.
• FATF-GAFI's evaluation of the Italian system in 2025: a critical step for Italy, called upon to demonstrate the solidity of its financial crime prevention system according to the new international standards of Round V.

The skills of the new Management

The Art. 19 of the PA decree law The Directorate plays a key role in the national strategy for preventing and combating financial crime. Specifically, its functions are structured along four main lines:

1️) International Relations and Coordination

• Representation of Italy in the main international forums: G7, G20 and FATF-GAFI.
• Coordination of the Italian delegation in the activities of the Financial Action Task Force (FATF).
• Secretariat of the Committee on Financial Security (CSF) for the prevention of money laundering and terrorist financing.
• Analysis of the vulnerabilities of the national financial system.

2️) Regulations and strategic direction

• Developing regulatory proposals, at both primary and secondary levels, to strengthen regulation of the sector.
• Participation in European and international negotiations on anti-money laundering strategies.
• Relations with supervisory authorities, Italian and foreign public institutions, trade associations, and financial operators.

3️) Supervision of non-banking and non-financial obliged entities

• Monitoring and supervising the activities of non-banking operators, ensuring greater control over an often less regulated sector.
• Coordination with the Guardia di Finanza for verification and control activities.
• Definition of guidelines for the supervision of non-financial intermediaries and self-regulatory bodies, filling a regulatory gap that made it difficult to monitor these entities.

4️) Sanctioning activity and litigation management

• Application of sanctions for violations of the law money laundering, on the financing the proliferation of weapons of mass destruction and on international restrictive measures.
• Monitoring compliance with currency regulations, controlling incoming and outgoing money flows, and supervising banking transactions related to the trade in defense materials.
• Management of seizures and the return of confiscated assets.

A point of reference for Italy and Europe

The establishment of the new Directorate is not only a response to internal needs, but also represents a strategic adjustment to the new European regulatory framework. With the advent of AMLA, which will be responsible for harmonizing supervisory practices for entities subject to anti-money laundering obligations, it becomes essential for Italy to equip itself with a solid reference structure capable of interfacing with European and international institutions.

In this regard, the Directorate will not only strengthen supervision and control at the national level, but will also actively contribute to the definition of financial crime prevention policies globally. Its ability to work in synergy with other supervisory authorities and effectively represent Italy at international level will be crucial to the credibility and effectiveness of our system for combating money laundering and terrorist financing.

We are confident that the Management will be able to competently address the new challenges, ensuring a level of supervision aligned with the most advanced international standards. Master Anti-Money Laundering Diploma, the Italian Anti-Money Laundering School will delve into the operational implications of this reform, analyzing the Directorate's new tasks and their impact on the governance of financial crime prevention.