Bank of Italy, CONSOB, IVASS and UIF call for the attention of supervised entities to full compliance with the restrictive measures decided by the European Union in response to the situation in Ukraine.
Please note that the measures – adopted by the European Union through Regulations and Decisions – are entirely binding and are directly and immediately applicable in each of the Member States.
The supervised entities are therefore required to comply with them, putting in place the necessary controls and devices, constantly monitoring the updating of the measures in question.
For the purposes of fulfilling the obligations of communication of the freezing measures applied to the designated subjects, the indications provided by the UIF with the Notice of 4 March 2022 will also be taken into consideration
In the current context, supervised entities are recommended to exercise the utmost attention with reference to the risk of cyber attacks, to intensify monitoring and defence activities in relation to possible  malware activities and to adopt all the risk mitigation measures that become necessary.
Supervised entities are also invited to carefully consider the  business continuity plans and to guarantee the correct functioning and prompt restoration of  backups; in this context, the importance of guaranteeing the separation of the  backup environment from the operating one is emphasized, evaluating the possibility of providing  offline backup solutions (i.e. that are not physically or logically connected to the network) of the essential systems and data .
Finally, supervised entities are invited to pay constant attention to the updates provided by the Computer Security Incident Response Team – Italy ( https://csirt.gov.it/contenuti?tags=Ukraine).
(Only in Italian)
Con comunicato del 4 marzo 2022, la UIF ha raccomandato agli operatori di comunicare appena possibile le misure di congelamento di fondi e risorse economiche applicate ai soggetti designati in relazione alle misure restrittive europee relative alle azioni che compromettono o minacciano l’integrità territoriale, la sovranità e l’indipendenza dell’Ucraina.

In particolare nella comunicazione dovranno essere indicati i nominativi e le denominazioni dei soggetti coinvolti, l’ammontare e la natura dei fondi o delle risorse economiche; relativamente a queste ultime, la comunicazione deve essere effettuata anche al Nucleo speciale polizia valutaria della Guardia di Finanza.
The report analyses the economic, asset and financial dynamics of enterprises infiltrated by organised crime in Italy, with the aim of identifying the characteristic elements of their management and operations.
Various infiltration strategies are identified, characterised by different management methods and purposes; the most important are investment firms, set up with illicit capital but managed in a lawful manner, and competition firms, with which criminals control the local market, also using mafia methods.
It is a twice-yearly publication informing on international technical cooperation at the Bank of Italy.
(Only in Italian)