Only the judicial authorities have the power to request the identity of the reporting person and intermediary, with a decree stating the grounds for the decision . This measure is deliberately limited to exceptional cases; the judge must consider the acquisition of the information “indispensable for the purposes of verifying the offences that are the subject of the proceedings”. Specific precautions are also envisaged for the impoundment of records and documents.
Legislative Decree 374 of 25 September 1999 extended the scope of the provisions regarding identification and registration and those on the reporting of suspicious transactions to activities considered susceptible to being used for money-laundering purposes for the fact that they involve the accumulation or transfer of massive economic or financial resources or are in any case exposed to infiltration by organized crime.
Such activities can be divided into two groups: a) non-financial activities engagement in which requires licences, authorizations, entry in registers or declarations of the commencement of activity pursuant to laws on public safety or other sectoral provisions. This group comprises claims recovery, security custody and transport services, antiques trade, manufacture and sale of gold and valuables, the management of auction houses, art galleries or gambling houses, and real-estate broking; b) financial activities, such as loan and other financial broking.
In the field of taxation, Legislative Decree 74 of 10 March 2000, which revised penal sanctions, reduced the number of “tax crimes”, which as such are money-laundering predicate offences, to a small number of serious offences. The renovated system of repression centres on three crimes relating to income taxes and value-added tax: fraudulent tax return, false tax return and failure to file a return. Alongside these are others offences likely to result in loss of revenue, including the issue of invoices or other documents for non-existent transactions.
Violations of tax law are a way of building up funds of illegal provenance to be reinserted in the economy or can be a manifestation of more ramified criminal behaviour directed towards investing funds deriving from unlawful activities in other, apparently lawful ones. Transactions connected with behaviour that does not constitute a tax crime may nonetheless be a means of concealing criminal activities of a different nature.
2. Addressees of the measure
The Instructions are addressed to the following persons subject to the suspicious-transaction reporting requirements:
Poste Italiane S.p.A.
asset management companies and SICAVs
persons operating in the financial sector entered in the sections of the general register of financial intermediaries established by Articles 113 and 155 of Legislative Decree 385/1993