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Financial crime in Italy - Types of Italian crime
Though Italy is a popular holiday location and a convenient place for many foreign nationals to conduct business, the country has an infamous reputation connected with organised crime and the Mafia. Recently, there has been a rise towards white-collar and financial crime across Italy.
If you are accused of corporate or white-collar crime in a foreign country, not understanding the procedures and your rights can be stressful, leaving you unsure how to respond and what proceedings will follow.
This guide will explore the most common types of business crimes in Italy, as well as the concept of corporate liability, the procedures in prosecution and the importance of seeking a cross-border criminal defence lawyer (Avvocati).
Click on the links below to each section:
Here are the different types of Italian financial crimes.
Discover the concept of corporate liability and what foreign nationals should know.
An outline of the criminal proceedings for prosecuting an Italian financial crime.
Learn the process for appealing a conviction in Italy.
Find the benefits of Italian criminal defence lawyers, and how Giambrone & Partners can help.
Read the most common queries on business crimes in Italy.
What are the most common business crimes in Italy?
Overall, Italy is deemed a relatively safe country, ranked 33rd by the Global Peace Index in 2024, one place ahead of the United Kingdom:
Cybercrimes
Cybercrime rates have increased as some businesses are becoming entirely digitised, particularly in Italy. Types of this financial crime include unauthorised data access, hacking, phishing, and dissemination of malicious software. Unlawful access to cybersecurity is punishable under article 615 under the Italian Code of Criminal Procedure, leading to imprisonment for three to five years.
Due to the nature of these crimes, it is possible to be charged with a cybercrime offence in Italy without being a resident. If you have been accused of cybercrime in Italy, it is important to consult with Italian cross-border criminal defence lawyers, who will advise and represent you throughout the proceedings.
For more information, request a callback with Giambrone & Partners’ criminal defence team.
Fraud
Fraud encompasses several deceptive practices, including false accounting, misrepresentation of financial statements, fraudulent bankruptcy filings, and tax evasion
Italy has robust legislation targeting fraudulent behaviour, with stringent penalties include hefty fines, asset seizures, and imprisonment. The Italian Revenue Agency (Agenzia delle Entrate) plays a key role in investigating and prosecuting financial fraud, often in collaboration with the Guardia di Finanza, Italy's financial police force.
Money laundering
Money laundering involves processing illicit funds to obscure their origin, making them appear legitimate. Given its potential to undermine economic stability, Italy enforces rigorous anti-money laundering (AML) regulations, including the use of the financial system under Legislative Decree No. 231/2007, which aligns with EU directives.
Businesses operating in Italy must implement compliance programmes, conduct due diligence on financial transactions, and report suspicious activity to the Financial Intelligence Unit (UIF).
Embezzlement
Embezzlement is a financial crime and those found guilty face significant legal consequences. Businesses are advised to maintain strict internal controls, conduct financial audits, and observe whistleblower statements to detect and prevent such offences.
If you or your business has been accused of a crime in Italy, our lawyers can explore various defences to prove your innocence or highlight a lack of evidence. It is vital to consult with legal advisors as soon as possible who will assess your circumstances and provide bespoke guidance on how to best proceed.
What is corporate liability, and does it apply to Italian companies?
In Italy, corporate liability refers to the legal responsibility of companies for crimes committed in their interest or to their advantage. Legislative Decree No. 231/2001 states that crimes such as fraud, corruption and money laundering committed by managers and employees can be prosecuted.
Determining corporate liability involves assessing whether the crime benefited the company where it resulted from organisational negligence or lack of oversight. Companies can mitigate liability by adopting and effectively implementing compliance programmes designed to prevent such offences.
These programmes, often called organisational and management models (Modelli di Organizzazione e Gestione), must include risk assessment, supervisory mechanisms, and internal disciplinary measures.
Read more about how our lawyers can help protect your business from corporate fraud issues here.
How are white collar crimes prosecuted in Italy?
The Italian legal framework follows a structured process to prosecute business crime. This involves the gathering of evidence, initiating investigations, and undergoing criminal proceedings:
Initiation of investigations
Investigations typically commence when the Public Prosecutor's Office (Pubblico Ministero) or the Judiciary Police (Polizia Giudiziaria) become aware of a potential offence. Unlike in other jurisdictions, Italian Public Prosecutors are not connected to the government; instead, they are professional magistrates.
Once a “notice of crime” has been brought before the Public Prosecutors, and after assessing the requirements on the basis of available evidence, they can then decide whether to bring forth criminal proceedings and request a trial. The Guardia di Finanza plays a crucial role in investigating financial crimes, often working alongside law enforcement and public prosecutors.
These preliminary investigations can be quite protracted and can take up to a year to conclude.
Criminal proceedings
When the Public Prosecutor initiates criminal proceedings it includes
- Preliminary investigations: The prosecutor, with assistance from the Judiciary Police, collects evidence to determine whether to proceed with formal charges.
- Preliminary hearing: A judge evaluates the evidence to decide if the case should go to trial. If there is insufficient evidence, the case may be dismissed.
- Trial: This will be conducted before a competent court, where both prosecution and defence present their arguments. Business crime trials typically fall under the jurisdiction of ordinary criminal courts, but cases with high economic impact may be handled by specialised financial crime divisions.
The burden of proof lies with the prosecution, which must establish the defendant's guilt beyond a reasonable doubt. Italian law also permits plea bargaining (patteggiamento), allowing defendants to negotiate a reduced sentence in exchange for a guilty plea, a common tactic in financial crime cases.
Unlike England and Wales where the judge is not involved in the questioning the defendants, Italian judges play an active role in prosecution.
Read more about your rights after being accused of an Italian crime here.
How can you appeal an Italian business crime conviction?
Defendants convicted of business crimes in Italy have the right to appeal their conviction through the Court of Appeal (Corte d'Appello). The appeal process may result in affirmation, modification, or annulment of the original conviction. If the appeal is unsuccessful, the case may be further appealed to the Supreme Court of Cassation (Corte di Cassazione), which reviews cases for legal and procedural errors.
When should I seek a legal defence lawyer?
Seeking legal assistance is advisable as soon as a company becomes aware of an investigation or receives notice of allegations. Criminal defence lawyers defending financial crime in Italy can assist in responding to regulatory inquiries, preparing defence strategies, and negotiating settlements.
Giambrone & Partners operates in multiple jurisdictions, including Spain, Portugal, and Italy. Our corporate and white-collar crime lawyers will represent you throughout your case.
If you have any questions or would like to speak to our criminal defence legal team, contact Giambrone & Partners today to request a callback.
Frequently asked questions
What are the whistleblower protections for reporting financial crime in Italy?
Italy has implemented whistleblower protections under Legislative Decree No. 24/2023, which aligns with the EU Whistleblower Directive. Whistleblowers reporting corporate misconduct are granted confidentiality and protection against retaliation.
What are the statutes of limitations for Italian white-collar crimes?
Italian law sets statutes of limitations for various business crimes. These time limits vary depending on the offence but generally range from six to 15 years. However, certain crimes, such as money laundering, may have extended limitation periods if aggravating circumstances are present.