The publication of the report by the inspectors of the Bank of Italy, which highlighted the deficiencies in the management and control system of this regional bank (one of the 10 largest in the Italian banking system), caused a real uproar with the resignation of the current Board of Directors and the calling of a General Assembly for September 30. The directors will be replaced by others, including 2 who will represent its second-largest shareholder, BPCE.
This news would remain just a widely reported information in the Italian press if the report of the Bank of Italy had not been made available to the Public Prosecutor’s Office of Genoa, and the prosecution has initiated an investigation entrusted to the Guardia di Finanza (The military branch of the Ministry of Economy which investigates any suspicion of financial crime). Well, this report “would mention” “unclear” operations that would be attributed to the Nice branch of this bank.
With the caution that the words demand, a shadow of money laundering would hover over certain operations as well as the non-compliance with European directives in this matter.
We will not go further because the matter is delicate and it is always better to wait for the facts, if applicable, to follow the suspicions. However, it remains that we must note the porous nature of the Azurean territory to this type of illicit activities.
It is true that the proximity of the Monegasque tax haven can only have effects on its close periphery as shown by the investigation into the recent scandal involving the Vatican’s banking system. Moreover, the infiltrations of the Calabrian ‘Ndrangheta in the province of Imperia and the control of the economy of this territory mean that a lot of money becomes available for operations and investments beyond the border. The characteristic of the Azurean economy, real estate and commerce, are its ideal and preferred targets.
It remains that this type of activity requires a solid “in loco” organization. And normally these “men in gray” do not often dress in work clothes!
