May 24, 2022

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Bank transfer, when the tax authorities suspect: the fines are heavy

Making a transfer using less verifiable channels would attract the attention of the tax authorities. And in the event of a violation, a blow will be delivered.

A financial transaction, if not in a normal course such as a purchase in a store, must take place according to specific rules. Bank transfer is a good example of this.

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This is the process most concerned with by the financial department, precisely because of its nature as a transfer of funds from the issuer to the recipient. The uses are different: pay a tax, service, service, professional business. Everything happens according to the parameters of the process, including the reason, Often times, that will be enough to justify the transaction. From a financial point of view, usually, there are no relevant indicators: the examination of the customer by the bank will be sufficient to ensure that the transaction corresponds to the economic profile and the property rights of the person carrying out it. Rather, credit institutions accept cash, provided that they do not exceed the limits established by law.

So everything is fine. So when does a transfer get the attention of tax authorities? More than an interest in the actual regularity of the transaction, It is difficult to check the necessary attributes. This happens, in fact, when the transfer is made through a channel other than that of a financial institution. Quite ordinary places to pay like bills or to recharge prepaid cards: bookmakers, newsstands, cigarette sellers. Everything happens through points of sale that provide money transfer services. Well, some of them also provide the possibility to make transfers.

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Bank transfer, when activating checks and fines

The problem arises when these services are required to pay attention to any recycling practices. With the possibility of making the conversion, in fact, the recipients cannot verify the actual regularity of the process, At least in terms of consistency With the economic picture of those who do it. And this despite the fact that identity verification is done. It is not surprising that this type of operation receives the most attention from the revenue agency. Especially if these transactions take place in cash and frequently over time.

In fact, telegraphic transfers with close frequency are often framed as a single operation. That is, the same method of payment to an ATM. daily limit Determined by the offer company, the transfer is 500 euros per day. Going beyond that would lead to the controls. But even apparently moving inside it, going through more operations in the same month would attract the attention of those checking in.

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The goal is always to check that there are no money laundering practices. The regulations in force call for, among other things, more controls if the operations have the same taxpayer as the recipient performing them. Also because if you follow the criticism, it’s clear that The source of the money may be uncertain. For this reason, in case of suspicion, proof may be required, especially if the amount is inconsistent with the income received and declared. In the event of a violation, according to Article 648 bis of the Criminal Code, there is a risk of very severe penalties: from a minimum of 5,000 euros to a maximum of 25,000 euros, depending on the nature of the violation.

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