meta_id 3095050

On February 3, 2026, the Bank of Italy (Banca d'Italia) imposed an administrative monetary penalty of €130,000 on Banca Popolare Pugliese – Società cooperativa per azioni (Banca Popolare Pugliese) for deficiencies in anti-money laundering and counter-terrorism financing (AML/CTF) controls. Following inspections conducted between September 2, 2024 and December 13, 2024, the Bank of Italy identified significant irregularities in the bank's organisation, procedures, and internal controls. The deficiencies specifically related to customer profiling processes, customer due diligence, and active cooperation obligations under Legislative Decree 231/2007 (implementing the fourth and fifth Anti-Money Laundering Directives). The violations also encompassed failures to comply with the Bank of Italy's provisions on internal organisation, procedures and controls to prevent money laundering and terrorism financing (issued March 26, 2019) and provisions on customer due diligence for combating money laundering and terrorism financing (issued July 30, 2019). The Bank of Italy's Institutional Relations and Supervision Service proposed the administrative penalty to the Bank of Italy's Board of Directors in accordance with the separation of investigatory and decision-making functions required under Law 262/2005. Banca Popolare Pugliese submitted observations during the proceedings, which the Bank of Italy determined were insufficient to overcome the proposed sanction. The penalty was imposed under Article 62 of Legislative Decree 231/2007, taking into account the scope of the irregularities identified and corrective actions undertaken by the bank. REFERENCES: Bank of Italy Sanzioni (Penalties): https://www.bancaditalia.it/