The present work provides a legal analysis aiming at including Italian anti money laundering system of prevention within the broader categories of administrative risk-management laws. In particular, the work gives account of an Italian peculiarity of its AML system, which since its very beginning (and differently from international and European laws) has always imposed AML obligations also upon Italian public administrations. Moving from the legal analysis of such peculiarity, as well as the past (and possible future evolution of European AML law) the book traces the evolution of Italian AML provisions and tries to shed lights on the reasons why, despite the laudable inclusion of public offices in the relevant norms, their actual participation in AML efforts still remains negligible.