L’art. 2 paragraph 4 DL. 138 of 13 August 2011, says: "For purposes of compliance with the provisions adopted at Community level for the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, restrictions on the use of cash and bearer securities are appropriate to the amount of euro 2.500,00 (two thousand five hundred)”.
The rule came into force on the day of publication in the Official Gazette, occurred on 13 August.
With regard to the payment of insurance premiums, the rule has little impact because it remains in force Article. 47 Reg. Isvap n. 5/2006, it is forbidden to collect cash prizes for any amount of life insurance policies and premiums for life insurance policies do not RC Cars, amount in excess of 750,00 €.
Under the new provisions will therefore be cashed for cash TPL insurance policies of less than 2.500,00 €.
Finally, the same anti-money laundering legislation, also extends to payments made by checks made payable where more than the limit of 2.500,00 euro applies, in addition to the non-transferability clause, identification of the issuer.
Alex Gaetani
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