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Buying house guide: Anti-money-laundering controls

Under the law on money laundering, the notary must ensure the identification of clients and the beneficial owner of the operation and report any suspicious transactions to the FIU (Financial Intelligence Unit) at the Bank of Italy.

According to data provided by the Financial Intelligence Unit (FIU), about 90% of the suspicious transaction reports received from professionals come from notaries.

This helps demonstrate how the notary is not only at the service of the public but also assists the authorities in checks on legality.

 

Source: Italian Notary's society (Consiglio Nazionale del Notariato)

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