Milan prosecutors launch false accounting investigation into BFF Bank
Milan prosecutors are investigating BFF Bank for alleged false accounting. The probe follows a central bank audit of the lender's public sector loan reporting.
Insights:
Milan prosecutors have opened an investigation into alleged false accounting at BFF Bank S.p.A. , a specialist lender operating in the factoring / suppliers receivables sector. The probe, which is currently ongoing, examines the accuracy of the institution's financial statements following a mid-2024 on-site audit by the Bank of Italy. This regulatory action previously led to a regulator-imposed ban on the bank paying dividends as authorities scrutinized its reporting practices in Italy 
IT.
IT.The investigation focuses on several key financial disclosures, including a market statement regarding a €95 million one-off charge and a restatement of the bank's 2024 accounts following a €54 million booking error. Investigators are specifically examining the classification of overdue loans from public sector entities, which are central elements of the bank's reported financial results. Prosecutors are working to determine if these accounting treatments accurately reflect the bank's financial position and comply with reporting standards.
