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Italy’s Court of Cassation upholds confiscation of businesses linked to betting agencies

Enforcement & compliance

Italy’s Court of Cassation declared an appeal inadmissible, leaving in place the confiscation of assets and business holdings connected to Calogero Jonn Luppino, according to the report. The confiscated property includes businesses linked to gaming and betting agencies, whose company names were not given. The court upheld the lower ruling that the assets were connected to support from the Cosa Nostra organisation.

The ruling leaves confiscated betting-related business assets in state hands and affirms the scope of forfeiture in this case.

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Regulation

Rome appeals court upholds bank’s duty to report suspicious casino-linked transactions

Rome’s Court of Appeal upheld the duty of a bank to assess and report suspicious transactions linked to Casinò di Campione d’Italia, reportedly in a case concerning a Ministry of Economy and Finance sanction. The transactions involved payments and winnings totalling about €3.8m, and the court said the casino’s own anti-money-laundering duties did not remove the bank’s separate obligation.

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