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Italy’s Finance Police Uncover 100 Foreign‑Flag Yachts Tied to Residents in €48 Million Probe

The findings trigger fiscal checks under Italy’s RW asset‑reporting rule with possible penalties up to €23 million.

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Overview

  • The Guardia di Finanza in Cagliari said it finished Operation “Red Jack,” identifying 100 undeclared pleasure boats worth more than €48 million.
  • The boats sailed under foreign flags yet were linked to people who live in Italy and used the vessels in national waters.
  • Investigators said owners failed to list these assets in the RW section of their tax returns, which records property held abroad.
  • Administrative fines could reach about €23 million, with tax offices now moving to assess each case.
  • The probe began in 2025 after routine sea checks and expanded across Sardinian ports using database and bank data cross‑checks to trace owners nationwide.