Fraudulent actions behind Italian bank probs - Visco (2)

(ANSA) - Brussels, April 11 - Bank of Italy Governor Ignazio Visco told the European Parliament Tuesday that fraud was a major factor in the troubles the Italian banking sector is currently enduring. "An economic crisis of these proportions could not fail to hit the Italian banks," he said. "At the origin of the banks' difficulties we found company decisions tainted by fraudulent behaviours and imprudent decisions on the allocation of credit - a combination of potentially devastating factors.
    "Nevertheless, the damage to the banking system was concentrated in a few, well-identified intermediaries, who have been subject to intense oversight and continue to be so".