Bologna, 29 June 2024 – The controls of Financial Police in the sector of cryptocurrenciesin Bologna, have allowed irregularities to be detected by a Bologna company, in the context of the fight against the phenomena of recycling and reuse of criminal proceeds in the sfinancial and economic system.
What are cryptocurrencies
Although conceptually similar to the moneythe Finance in a note he makes it known that the cryptocurrencies consist of rvaluable digital representations which are not issued or guaranteed by Central Banks, are disconnected from the so-called fiat currencies, but which like the latter maintain, as the main characteristic, that of being shared and accepted as medium of exchange by private individuals to regulate their relationships or for purposes of investment.
The control of payment circuits alternative to the banking system, electronic money instruments and virtual currencies “is essential to intercept possible operations of laundering of illicit proceeds and protect savers, often damaged by an unaware use of these innovative forms of investment”.
The Guardia di Finanza investigations
The inspection activity conducted by the Economic and Financial Police Unit of Bologna has allowed us to contest two administrative violations against the legal representative of the subsidiary company for failing to correctly fulfill the obligations of “customer due diligence” towards a Swiss and a Spanish joint-stock company. The commission of two qualified violations was also ascertained, as characterized by seriousness, regarding “failure to report suspicious transactions” relating to the purchase of virtual currency, with a total value of 155 thousand eurosby a Swiss public limited company and of a Russian citizen resident in Bologna.
Particular investigative attention, let us know Yellow Flameswas also placed on the cash purchase of cryptocurrencies made by numerous customers for amounts apparently lower than the legal threshold of 3 thousand euros “because they were artificially fractionated”.
The investigations made it possible to detect administrative violations for 54 transactions of the overall value of over 90 thousand euroscarried out by 8 customers of the company subjected to inspection in conjunction with the legal representative of the same.
From the investigations of these operations it also emerged that a person, operating in the sales sector of bakery productshas used, with the consent of the legal representative of the company under inspection, the identification data of 5 employees to make purchases virtual currency for about 80 thousand euros.
For these reasons both subjects were reported to the Bologna Prosecutor’s Office for using false data or untrue information.
