Partner Luigi Macioce and counsel Valentina Gava were featured in ItaliaOggi7 discussing the recent coming into force of the new Italian Financial Intelligence Unit (UIF) guidelines on Suspicious Transaction Reports (STRs), requiring professionals to perform a substantive, risk-based and well-documented assessment of clients and transactions before filing an STR.
The reforms emphasise the quality rather than the quantity of reports, reinforcing that anomaly indicators are only a starting point and cannot, on their own, justify a filing. The new approach is therefore not intended to reduce the number of STRs, but rather to improve their quality, placing greater responsibility on reporting entities to make informed, reasoned and demonstrable judgments as part of their anti-money laundering obligations.