The Economic Affairs Commission today approved a bill that prohibits cash transactions in four distinct forms. The objective is to try to make it difficult to launder money or hide goods and values, as well as the use of economic systems for the practice of 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 reais (and above R$ 10 thousand for non-residents in the country); circulation above R$100 thousand (except for transportation by value companies), and possession above R$300 thousand, except in specific situations.
Now, the proposal goes to the CCJ (Committee on Constitution, Justice and Citizenship), for a final decision. The text can then be sent for analysis by the Chamber of Deputies.
PL 3.951/2019 is authored by senator Flávio Arns (Podemos-PR), and received a favorable opinion from the rapporteur, senator Alessandro Vieira (Citizenship-SE).
In justifying the project, Arns explains that the use of cash “facilitates the laundering of resources in corruption activities, facilitates tax evasion and, in addition, provides opportunities for crimes such as bank robberies, ATM burglaries, among others. others”. He also explained that similar measures have already been implemented in countries like the United States, Canada and Australia, in addition to some Europeans.
The text also received an amendment by senator Oriovisto Guimarães (Podemos-PR) that prohibits the use of cash in real estate transactions. This is because, according to the congressman, this type of operation is used to hide assets of unjustified origin or launder illegally obtained money.
Despite having accepted the text, senator Alessandro Vieira explained that Brazil already has similar legislation. This is the case of the Normative Instruction of the Federal Revenue Service 1,761, of 2017, which requires that cash transactions be reported in transactions exceeding R$ 30 thousand, including cases of donation.
“In addition, according to Circular 3839, of 2017, of the Central Bank, customers who wish to make a cash deposit, cash withdrawal, or cash withdrawal by means of a prepaid card, in an amount equal to or greater than 50 thousand , shall communicate their intention and inform data to the respective banks, which shall forward such information to the Financial Intelligence Unit (UIF), formerly (Coaf)”, he added in his report to CAE.
However, the rapporteur considers the Legislative’s action necessary, “in order to facilitate the work of the Public Ministry and prevent various crimes from happening.” In addition, the senator argues that the Brazilian banking system is qualified and allows financial transactions to be carried out electronically, which makes it easier for authorities to track any financial movement.
* With information from the Senate Agency