Πέμπτη 20 Αυγούστου 2015

Italy: The economic downturn increased corruption and tax evasion

Reports of suspicious bank transactions in Italy increased last year by 10% to a new high, as ongoing problems with organized crime, corruption and tax evasion became more intense because of the three-year recession, announced today the central bank.
The recession has allowed the members of the mafia, enjoyed ample liquidity, to exercise greater control over the economy, by reducing credit from banks, criminal networks increase their investment in the real economy, as the researchers report.
"The main threat in terms of range and penetration from organized crime, both in traditional form and its most recent manifestations," the report said, referring to the strong links between organized crime and corruption.
Such a case that revealed these close ties last year saw the light of day in Rome and led to dozens of arrests.
At the same time last year became known corruption scandals regarding procurement for the World Fair of Milan and the competent authority to the flood protection works in Venice.
"Corruption is a particularly worrying threat to our socio-economic system. The widespread perception of this phenomenon undermines public confidence in the institutions and politics, "said the Financial Intelligence Unit of the Bank of Italy in its annual report submitted to the country's parliament.
While the number of petitions - which climbed to 71 700 in 2014 compared with a year earlier - due to closer monitoring of bank employees, the report notes that money laundering is "very important" threat to the Italian economy, the third largest in the eurozone .

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