In 2023, the Unit received 150,418 suspicious transaction reports (STRs; -3.2% compared to 2022). Despite the reduction in volume, the complexity of the reports continues to increase. The improvement of analytical tools has allowed for increased efficiency and effectiveness in processes. The outcomes of investigations and the feedback from the National Anti-Mafia Directorate (DNA) confirm the effectiveness of the activities performed.
On 1 January 2024, the new anomaly indicators came into force. In 2023, the UIF launched a project for a system to monitor the quality of active cooperation, based on indicators measuring the level of participation in the anti-money laundering system, the substantive quality, the formal accuracy in the compilation of STRs, and the timeliness of cooperation.
In the fiscal sector, the flow of reports connected with economic support policies, particularly with the PNRR, is significant. The use of FinTech tools designed to hinder the traceability of financial flows is increasing; cyber frauds are becoming more widespread.
The Unit's on-site and document audits - doubled compared to the previous year - covered, among others, innovative and high-risk sectors such as crowdfunding, the trading of tax credits through digital platforms, and the use of virtual IBAN services. Risks associated with the failure to identify the respective buyers emerged in the purchase of vouchers for the distribution of electronic money, the recharging of gaming wallets, and the provision of services in virtual assets.
The monitoring of foreign transfers in the Aggregate AML Reports (SARA) led to the identification of potentially illicit flows towards Russia triangulated with third countries. In the context of strategic analysis, the Unit continued investigating the use of "filter" companies that facilitate carousel VAT fraud by interposing themselves before shell companies. Indicators of irregularities in the use of public funds were developed, and risk measures for public tenders were defined, highlighting significant heterogeneity in corruption risks between regions and based on the size of the contracting authority.
Requests for information from the judiciary and law enforcement bodies have significantly increased (+31.3%). The new Memorandum of Understanding signed at the end of 2023 by the UIF, the DNA, the Department of Public Security (on behalf of the Anti-Mafia Investigation Department - DIA), and the Finance Police (Guardia di Finanza) aims to streamline information exchange methods and enhance information sharing among participants. Information exchanges with foreign FIUs slightly decreased.
With the objective of consolidating the trust of obliged entities and citizens in the anti-money laundering system and protecting its effectiveness, the UIF has strengthened measures to safeguard the security of IT systems and the confidentiality of information. Data science initiatives continue to be developed to maximize operational efficiency and analytical effectiveness.
In mid-June, three legislative acts were published, completing the new anti-money laundering regulatory framework of the European Union (the AML Package): the regulation establishing the European Authority, AMLA; the regulation on the prevention of the use of the financial system for money laundering and terrorist financing purposes (the so-called new harmonized rulebook); the sixth anti-money laundering directive.
The Mutual Evaluation of the Italian anti-money laundering system by the FATF will soon begin. The UIF is expected to provide a significant contribution, especially concerning the assessment of the effectiveness of preventive action.
