Financial Offences

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Financial Offences

The Department of the Treasury's work to monitor and prevent financial offences includes assessing the risks and vulnerabilities of the financial system and developing policies to prevent and combat crime.

OBJECTIVES AREAS OF WORK

Step 1

Preliminary phase The IT Coordination Office presents the Financial Offences Project File to the Agency for Territorial Cohesion. July 2018

Step 2

Implementation phase The IT Coordination Office submits the first reimbursement request for a total of € 2.214.116,78. December 2018

Step 3

Implementation phase The IT Coordination Office submits the second reimbursement request for a total of € 63.441,00. April 2019

Step 4

Implementation phase The IT Coordination Office submits the third and fourth reimbursement requests for a total of € 894.471,89. December 2019

Step 5

Implementation phase The IT Coordination Office submits the fifth reimbursement request for a total of € 725.884,75. December 2020

Step 6

Implementation phase The IT Coordination Office submits the sixth reimbursement request for a total of € 180.988,92 June 2021

Step 7

Implementation phase The IT Coordination Office submits the seventh reimbursement request for a total of € 271.199,07 December 2021

Obiettivi Illeciti finanziari

Objectives

By implementing the "Empowered & Digital Public Financial Illicit Platform" project, the Department of the Treasury aims to boost the efficiency of the entire process to manage and prevent financial offences, as well as to improve the management of said process. Achieving this key objective means completing the application platform to support the process and extending existing functions, using innovative technology and digital transformation tools .In particular, the activities carried out by the Department as part of this project have four main objectives:

Enhanced monitoring

To develop and perfect the systems used to receive and monitor potential and confirmed reports of fraud involving means of payment other than cash and counterfeiting, strengthening activities to prevent financial offences.

Data security

To introduce an environment based on cooperation and the secure sharing of information with both internal and external stakeholders, in order to manage and prevent financial offences, increasing the level of data dissemination and interoperability with other public bodies.

Digital evolution

To further develop the system used to manage international financial sanctions, thanks to a system able to manage authorisation requests and financial transactions by individuals and/or countries that are subject to restrictive measures, as defined in regulations issued by the European Council.

Innovative architecture

To redefine and improve the architecture of systems relating to anti-money laundering, currency processes and sanctioning procedures regarding arms and counterfeiting, by computerising processes and simplifying procedures.

Areas of work

Areas of work

Designing and creating a certified environment to store the Department of the Treasury's information assets, using integrated automation, performance analytics and digital service management solutions. Streamlining services, infrastructure and automation tools helps meet the need for flexibility, scalability and performance improvement.

Designing and creating a certified environment for the overall management of data, in order to consolidate the Department of the Treasury's information assets and therefore improve the functional logic and metrics on which analyses are based.

Architectural and functional development of the IT systems used to monitor potential and confirmed reports of fraud involving means of payment other than cash and euro counterfeiting.

Innovating IT systems for anti-money laundering and currency activities, as well as for sanction procedures regarding arms and counterfeit euros (banknotes/coins).

This system provides financial intermediaries, the MEF, the Ministry of Foreign Affairs and the Ministry of Defence with functions to manage information on financial transactions relating to arms dealing.

Upgrading the system used to manage international financial sanctions, allowing for the management of authorisation requests and financial transactions by individuals and/or countries that are subject to restrictive measures, as defined in regulations issued by the European Council.

Analysis, design and implementation of a single information system to govern the entire process to manage and prevent financial offences and to improve overall efficiency. This tool processes data for institutional reporting and extracts aggregated data for stakeholders, as well as allowing for phenomena to be analysed and monitored for preventive purposes.