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Money laundering regulation and the new internal control system

Author

Listed:
  • Ranieri Razzante

    (Università Mediterranea di Reggio Calabria)

  • Elisa Dellarosa

    (Banca Malatestiana Credito Cooperativo)

Abstract

The Third Money Laundering Directive has led to a radical change in the supervisory policy, valuing intermediaries’ self-regulation, and the Legislative Decree 231 of 2007 has imposed a thorough review of operational procedures and of internal control system.The new process designed by intermediaries will have a risk-based approach and the risk management will be entrusted to objective methods of measurement managed by different corporate functions strictly coordinated

Suggested Citation

  • Ranieri Razzante & Elisa Dellarosa, 2010. "Money laundering regulation and the new internal control system," BANCARIA, Bancaria Editrice, vol. 1, pages 56-65, January.
    • Handle: RePEc:ban:bancar:v:01:y:2010:m:january:p:56-65
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/1881/bancaria-n-1-2010
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    More about this item

    Keywords

    anti-money laundering; Internal audit;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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