Customer Due Diligence challenges and the evolution of European AML legislation.

Abstract

Over the past few years, the discipline of Anti-Money Laundering has progressively captured more and more attention worldwide due to the growing awareness of its negative consequences on several stakeholders, including the government, the state, people and companies. One of the main pillars of the AML discipline is Customer Due Diligence. The purpose of this thesis is to examine the impact that the publication of the five European Directives has had on the evolution of Customer Due Diligence in the Italian AML framework. The thesis begins with an introduction of the anti-money laundering discipline, focusing on the Italian and International framework. It then delves into the importance that Customer Due Diligence currently holds on the international scenario after the introduction of the innovative five European Directives over the last years.