In 2024, the Unit received 145,401 Suspicious Transaction Reports (STRs), representing a 3.3% decline compared to 2023. This reduction was accompanied by a notable decrease in the proportion of low- or negligible-risk reports, reflecting the positive impact of ongoing efforts to improve the quality of reporting. At the same time, the complexity of the reports increased, requiring more in-depth analysis and the use of advanced analytical techniques. Investigative outcomes and feedback from the National Anti-Mafia and Anti-Terrorism Directorate (DNA) confirmed the effectiveness of the Unit's work.
During the year, the UIF contributed to the completion of the updated National Risk Assessment, within the framework of the Financial Security Committee (CSF). The assessment reaffirmed that the risk of money laundering remains very significant in Italy, identifying corruption, extortion, tax evasion, bankruptcy-related offences, and corporate crime as among the most pressing threats to the financial system.
Analysis of STRs revealed that money laundering schemes increasingly involve innovative financial instruments and cross-border operations. These schemes are also prevalent in traditional high-risk areas such as tax fraud, misuse of public funds, corruption, and organised crime, which continue to feature prominently in reporting trends. The role of new technologies remains substantial, with a growing incidence of cyber frauds and the evolving use of crypto-assets for money laundering purposes.
In its supervisory activities, the UIF identified vulnerabilities among non-financial entities, particularly in the online gaming sector. Inspections of gold sector operators also highlighted weaknesses in anti-money laundering controls and a lack of awareness of regulatory obligations. In response, the UIF launched targeted outreach initiatives to raise awareness and strengthen compliance in these sectors.
As part of its strategic analysis work, the UIF completed a study proposing a conceptual framework to better understand and categorise the drivers of organised crime infiltration into the economic system. The Unit also developed an algorithm to estimate the risk of mafia infiltration in local government. Pilot projects are underway to explore the use of machine learning for operational purposes.
Significant enhancements were made to the UIF's IT and analytical infrastructure to reduce manual processing, safeguard data confidentiality, and ensure systems remain aligned with evolving regulatory, methodological, and technological standards. Information-sharing processes with investigative authorities and the DNA were further strengthened to enhance security and efficiency.
Collaboration with domestic authorities remained strong. While the number of information requests from judicial and investigative bodies declined slightly, they concerned a larger volume of STRs than in the previous year. In July 2024, the UIF and the Guardia di Finanza signed a new Protocol aimed at strengthening collaboration, by improving coordination of supervisory activities in order to focus efforts on high-risk sectors and typologies.
International cooperation with foreign Financial Intelligence Units (FIUs) remained substantial and increased compared to 2023. The quality of incoming requests and spontaneous disclosures from other FIUs also improved. The UIF continued to carry out its responsibilities under the CSF mandate regarding international sanctions, particularly those targeting the Russian Federation.
In the second half of 2024, the Financial Action Task Force (FATF) launched its Mutual Evaluation of Italy's anti-money laundering framework. The establishment of the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) and the new EU regulatory framework mark a significant step toward deeper integration among Member States in the fight against money laundering and terrorist financing.
