The Bank of Italy and the National Agency for the Administration and Destination of Assets Seized and Confiscated from Organized Crime ("ANBSC") have signed an agreement for collaboration between the two institutions.
The agreement, which came into effect on 25 September 2023, aims to improve the management of unregistered movable assets definitively confiscated from organized crime pending their destination and will involve the cooperation of some of the Bank of Italy's branches.
The collaboration agreement has a duration of two years with the possibility of renewal and further bolsters the Agency's efforts to return the seized assets back into legal circulation.
