The TIU says both players were found guilty of two breaches of anti-corruption rules – one in relation to contriving the outcome of matches, and the other in connection with facilitating betting on matches.
The incidents occurred at the ATP 500 World Tour tournament event in Barcelona, Spain in April 2011.
Bracciali, 40, is ranked 100th in doubles and reached a career-best of 21 in June 2012. As a singles player, his highest ranking was 49 in May 2006.
Starace, 37, retired earlier this year with a career-best singles ranking of 27 in October 2007. His highest doubles ranking was 40 in June 2012.
He is prohibited from attending any sanctioned events organised or recognised by the governing bodies of the sport.