meta_id 3407275

On June 23, 2026, the Bank of Italy imposed an administrative monetary penalty of €40,000 on Banca Popolare Commerciale Spa (BPC) for deficiencies in anti-money laundering and counter-terrorism financing (AML/CTF) compliance. The Bank of Italy identified the violations following inspections conducted between February 10 and April 30, 2025. The breaches encompassed failures in customer due diligence obligations, active cooperation requirements, and AML/CTF controls under Legislative Decree 231/2007 (implementing the fourth and fifth Anti-Money Laundering Directives) and the Bank of Italy's internal governance and customer due diligence provisions issued on July 30, 2019. The Bank of Italy determined that BPC failed to meet obligations under Articles 7, 16, 17, 18, 19, 24, 25, 35, and 36 of Legislative Decree 231/2007, as well as provisions governing internal procedures and controls to prevent misuse of intermediaries for money laundering and terrorism financing purposes. The violations were formally contested to BPC's legal representative in accordance with Article 145 of the Unified Banking Law (Testo Unico Bancario). BPC submitted observations during the investigation, which the Bank of Italy's Institutional Relations and Supervision Service determined were insufficient to overcome the proposed sanction. The Bank of Italy's Governing Board approved the penalty, taking into account the scope and duration of the irregularities and corrective actions undertaken by BPC. The €40,000 fine was imposed under Article 62 of Legislative Decree 231/2007. REFERENCES: Bank of Italy, Provvedimenti sanzionatori, June 23, 2026