Ignazio Visco told a conference in Milan that crime “has a negative effect on investments in general, especially from abroad,” Il Sole 24 reported.
He called on the government to rapidly adopt a new anti-money laundering law as well as create conditions that will prompt a return to growth.
"Respect for the law in the financial sector is a prerequisite for a sound and prudent management of financial institutions,” Visco said.
Italy was listed as one of the most corrupt countries in Europe in Transparency Interantional Corruption Perception Index for 2013, published last December.
The eurozone’s third-largest economy came 69th in the list of 177 countries.
READ MORE HERE: Italy among most corrupt countries in Europe