Powers of the FIA

In order to perform the functions attributed by Law, Agency has the following powers:

a) order the obliged entities to produce or deliver documents, also in original, or to disclose data and information, according to the procedures and time limits laid down by the Agency, also following inspections;

b) ask the Central Bank, public administrations and police authorities to disclose data or information, or to produce or deliver any acts or documents according to the procedures and time limits laid down by the Agency;

c) carry out on-site inspections at obliged entities. If obliged entities rely on third parties to meet the requirements provided for by this Law, the inspections may also be carried out at such third parties;

c bis) obtain from the obliged entities the documents, information, data and statistics necessary to verify compliance with the obligations under this Law and to assess the risk of money laundering and terrorist financing of the individual obliged entities, of the categories they belong to and of the sectors in which these operate;

c ter) obtain documents, information and data from the entities in respect of which an assessment is being conducted for violations of the provisions on cross-border transportation of cash and similar instruments or for violation of Article 31, paragraph 1 of this Law;

d) order the blocking of assets, funds or other economic resources when there are reasonable grounds to believe that these assets, funds or resources are derived from money laundering, predicate offences or terrorist financing or may be used to commit such criminal offences;

e) suspend for a maximum of five working days, also upon request of the criminal judicial authority or of a foreign financial intelligence unit, suspected money laundering or terrorist financing transactions or transactions concerning assets or funds suspected to derive from predicate offences;

f) collect summary information from persons who may report circumstances useful to investigations regarding offences of money laundering, predicate offences and terrorist financing, as well as criminal offences and administrative violations set forth in this Law;

g) order financial entities, also upon request of a foreign financial intelligence unit and for a fixed period of time, to monitor one or more business relationships according to the procedures and time limits laid down by the Agency;

h) inform the obliged entities, for preventive purposes, about transactions, including attempted transactions, or about persons and circumstances, which may pose money laundering or terrorist financing risks.

In the exercise of the powers set forth in the previous paragraph, the Agency may make use of police officers.

The Agency may carry out investigations related to proceedings regarding money-laundering and terrorist financing as well as crimes and administrative violations set forth in Law no. 92 of 17 June 2008 and subsequent amendments under the delegation of the Judicial Authorities.