The financial intermediaries who are subject to this regulation must identify the legal and organisational form, procedures and control systems of the Central Contact Point suitable to mitigate and manage the money laundering risks to which their operations in Italy are exposed. The Central Contact Point must take into account the outcomes of the self-assessment exercise of the money laundering risk.
In this context, the intermediary must establish all the functions and procedures necessary to carry out anti money laundering tasks envisaged by the Italian legislation at the central contact point.
The intermediary must equip the central contact point with adequate quality resources, with technical-professional skills, in relation to the tasks to be performed, the size and complexity of the network and agents involved, exposure to the risk of money laundering of the specific services offered.
The role as Head of the Central Contact Point must be assigned to a natural person who meets the requirements set for the anti-money laundering officer and the name must be submitted to the Bank of Italy and the UIF. The nominated officer of the central contact point:
- is also responsible for reporting suspicious transactions;
- can be appointed as anti-money laundering officer.
The intermediaries who are subject to this regulation must ensure that adequate facilities and procedures are available at the central contact point to enable the central contact point to independently analyse and evaluate all the operations carried out in Italy by the intermediary and identify those that are potentially suspect.
For this purpose the central contact point takes into account the relevant information that the contracted parties and agents are required to submit to the same central contact point pursuant to Article 44, paragraph 1, letter c) of the Legislative Decree n. 231/07.
For the fulfillment of reporting obligations the intermediary who are subject to this regulation must:
– make the relevant information in its possession available to the central contact point;
– equip the central contact point with appropriate procedures, including IT procedures:
a. transmission of communications by affiliated parties and agents referred to in Article 44, paragraph 1, of the anti-money laundering decree;
b. performance of adequate customer verification, where this task is carried out through the central contact point;
c. preservation of documents, data and information;
d. remote control and monitoring of operations carried out at affiliated entities or agents operating in Italy;
e. transmission of data to the competent Authorities, communications of periodic information, including those referred in article 45, paragraph 2, of Legislative Decree n. 231/07; to carry out this function the central contact point will need the necessary credentials to access the systems and data transmission platforms.