SAN MARINO CONTINUES PUSH TO SHED REPUTATION AS HIDING HOLE FOR ITALIAN DIRTY CASH
February 22nd, 2023
Once a stronghold of banking secrecy and a haven for undeclared cash-carrying Italians making deposits in a local micro-state, the Republic of San Marino, the world’s oldest republic (founded in the year 301CE), has been working to repair its AML/CFT reputation.
An initial driver of the work done so far in San Marino has been the desire to get off the OECD grey-list of tax havens deemed not in full compliance with global tax standards, which it did in 2009, seeking to reduce its exposure tax evasion, which is widely labelled as an ML-associated predicate ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.