The Economic Affairs Commission today approved a bill that prohibits cash transactions in four different forms. It aims to launder money or make it difficult to hide goods and values, as well as to use economic systems to practice illegal activities.
According to the PL, the change will be valid for operations above R $ 10 thousand, payment of bank slips above R $ 5 thousand (and above R $ 10 thousand for non-residents in the country); Circulation above R$100 thousand (excluding transportation by value companies), and possession over R$300 thousand, except in specific situations.
Now, the proposal goes to the CCJ (Committee on Constitution, Justice and Citizenship) for a final decision. The text can then be sent for analysis by the Chamber of Deputies.
PL 3.951/2019 is written by Senator Flavio Arnes (Podemos-PR), and has received favorable opinion from Senator Alessandro Vieira (Citizenship-SE).
In justifying the project, Earns explains that the use of cash “facilitates the laundering of resources in corruption activities, facilitates tax evasion and, furthermore, provides opportunities for crimes such as bank robbery, ATM theft”. . other”. He also pointed out that in addition to some Europeans, similar measures have been implemented in countries such as the United States, Canada and Australia.
The text also received an amendment by Senator Oriovisto Guimaraes (Podemos-PR) that prohibits the use of cash in real estate transactions. This is because, according to Congressmen, this type of operation is used to conceal property of improper origin or to launder illegally obtained money.
Despite accepting the text, Senator Alessandro Vieira explained that Brazil already has similar legislation. This is the case of the Federal Revenue Service’s Normative Instruction 1,761 of 2017, which requires that cash transactions be reported in transactions exceeding R$30 thousand, including cases of donations.
“Furthermore, in accordance with Central Bank’s circular 3839 of 2017, customers who wish to make cash deposit, cash withdrawal or cash withdrawal through a prepaid card, in an amount equal to or more than Rs 50,000, shall communicate their intention and Will inform the data to the respective banks, which will forward such information to the Financial Intelligence Unit (UIF), formerly (COF),” he added in his report to CAE.
However, the delegates consider legislative action necessary, “to facilitate the work of the Ministry of Public Affairs and to prevent the occurrence of various crimes.” Furthermore, the senator argues that Brazil’s banking system is qualified and allows financial transactions to be carried out electronically, making it easier for authorities to track any financial movement.
* With Senate agency information