To make money laundering more difficult, the Commission on Economic Affairs (CAE) on Tuesday (24) approved a project that prohibits transactions with cash in four different forms: from R $ 10 thousand operations above, payment of bank slips above R $ 5 thousand riyals (and above R $ 10 thousand for non-residents in the country); Possession above BRL 100 thousand (excluding transportation by value companies) and above BRL 300 thousand, except in specific situations.
PL 3.951/2019, by Senator Flavio Arnes (Podemos-PR), with an amendment by Senator Oriovisto Guimaraes (Podemos-PR), received a favorable opinion from Senator Alessandro Vieira (Cidadania-SE), which also prohibited its use does. Cash cash in real estate transactions. According to Oriovisto, this type of operation is regularly used to conceal property of improper origin or to launder illegally obtained money.
“The clear objective of the project is to reduce the possibility of money laundering and corruption”, explained Alessandro.
The proposal now goes to the Constitution, Justice and Citizenship Committee (CCJ) for a final decision – allowing it to be sent to the Chamber for analysis.
The text was based on the New Measures Against Corruption, authored by Professor of Law at the Fundaço Getlio Vargas (FGV) Michael Mohallem. According to Arns, the project aims to prevent the crimes of laundering or concealment of goods and valuables, as well as the use of economic systems for the practice of illegal activities.
Justifying the project, Earns explains that the transit 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, among others.” does.”
He further noted that similar measures have already been implemented by several countries, for example, the United States, where financial institutions overseen by the Financial Intelligence Unit (FIU) require central supervision to exceed $10,000. All cash transactions are required to be reported. .
Similarly, Canada and Australia, exemplified by Arnes, “require cash transactions of $10,000 or more to be reported. In Europe, countries such as Portugal, Italy, Greece and Belgium have implemented measures that allow transactions to be reported. enforce the communication of and establish restrictions on the use of cash.
To keep an eye
For Alessandro Vieira, Brazil already has similar legislation. This is Federal Revenue Normative Instruction 1,761 of 2017, which requires that cash transactions be reported in transactions over BRL 30,000, including donations.
“Further, in accordance with Central Bank’s circular 3839 of 2017, customers who wish to make cash deposits, cash withdrawals or cash withdrawals through prepaid cards, in an amount equal to or more than Rs 50,000, communicate their intention to and communicate the data to the respective banks, which should forward such information to the Financial Intelligence Unit (UIF), formerly (COF),” he added in his report to CAE.
Nevertheless, according to the Reporter, “there is an urgent need for legislative action to facilitate the work of the Ministry of Public Affairs and to prevent various crimes committed through the use of large amounts of cash.”
In Alessandro Vieira’s view, Brazil’s banking system is qualified, and one of the most developed in the world, in a position to allow financial transactions without the need to carry cash, allowing authorities to track any movement. It becomes easier to do. financial. In addition, he emphasized, “the implementation of the measures will be very low-cost”.