Page 32 - MONACO LAW REVIEW 2025-2

The Italian
Guardia di Finanza
Claudio PETROZZIELLO
Claudio PETROZZIELLO
Colonel, Guardia di Finanza
Colonel, Guardia di Finanza
Italy’s fi ght against money laundering took shape as early
as 1978 with the introduction of Article 648-bis of the
Italian Criminal Code. This provision marked a major step
forward: for the fi rst time, the offence of money laundering
was clearly defi ned, anticipating legal models that are now
widely adopted internationally. Since then, the Italian system
has continued to strengthen, becoming one of the most
comprehensive and recognised frameworks in the world.
This model is built on a multilayered approach combining
national legislation, EU directives and international standards.
Its effectiveness lies in the close cooperation between public
institutions and private-sector actors, enabling the swift and
precise detection and prevention of illicit behaviour.
Within this framework, the Guardia di Finanza plays a central
role. It is not only the authority responsible for investigating
money laundering cases, but also the operational arm
that ensures the concrete implementation of national and
international strategies. Drawing on its technical expertise
and in-depth knowledge of the economic and fi nancial
landscape, it is able to analyse suspicious fi nancial fl ows,
gather information from reporting entities, and work closely
with judicial and foreign authorities. Its action is not limited
to enforcement: it also contributes to promoting a culture of
economic legality through prevention and awareness-raising
activities.
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With more than two and a half centuries of history, the
Guardia di Finanza was originally established to protect the
economic interests of the State against smuggling and cross-
border threats. Over time, it has succeeded in transforming its
mission by fully embracing the “follow the money” principle,
which has become one of the cornerstones of the fi ght
against economic crime. Inspired in particular by the work
of Judge Giovanni Falcone, this approach has developed into
a genuine operational philosophy: following fi nancial fl ows
makes it possible to expose criminal structures as a whole. If
the elements of the intermediate offence represent the dots
of a “connect-the-dots” fi gure, it is the movement of money
that traces the outline, thereby revealing the full picture of
the behaviours and responsibilities involved.
The Spanish Ministerio
Fiscal
Maria DEL MAR SHARFHAUSEN PELAEZ
Maria DEL MAR SHARFHAUSEN PELAEZ
Spanish Prosecutor
Spanish Prosecutor
It is widely recognised that money laundering is a global
phenomenon that develops in parallel with the growth of
economic activity, taking advantage of equally globalised
fi nancial circuits. The confi scation of assets and economic
resources derived from unlawful activities is one of the
priority objectives of international law-enforcement
organisations, as well as judicial authorities and prosecutors’
offi ces around the world, particularly in democratic States.
The European Union, and within it Spain, represents one link
in the chain combating this universal “cancer” that threatens
to undermine State structures. To date, six directives have
been adopted to combat money laundering and terrorist
fi nancing.