Money laundering in Italy amounts to between €25 billion and €35 billion per year, according to the country’s Guardia di Finanza (GdF) tax police.
Andrea De Gennaro, Commander General of the Guardia di Finanza, cited estimates from the Bank of Italy’s Financial Intelligence Unit during remarks at the Trento Economics Festival on Thursday. The event was organized by Il Sole 24 Ore and Trentino Marketing on behalf of the Autonomous Province of Trento.
According to De Gennaro, estimates covering the 2018-2022 period indicate that money laundering in Italy represented between €25 billion and €35 billion annually, equivalent to between 1.5% and 2% of the country’s gross domestic product.
De Gennaro said money laundering is often viewed primarily as the process of introducing proceeds from drug trafficking into the legal economy, but added that the scope of underlying crimes is wider.
He said the offences linked to money laundering also include tax evasion, corruption and fraud.
“The methods of laundering are extremely varied and complex,” De Gennaro said.
 tax police. Andrea De Gennaro, Commander General of the Guardia di Finanza, cited estimates from the Bank of Italy's Financial Intelligence Unit during remarks at the Trento Economics Festival on Thursday. The event…){kind=link}